Can landlords claim back stamp duty?

Landlords claiming back SDLT

Stamp duty is a tax that is levied on various financial transactions, including the purchase of a property, transfer of shares, and other assets. This tax can add a significant amount to the cost of these transactions and can be a burden for many individuals and businesses. However, there are instances where you may be eligible to claim back the stamp duty you have paid, and this can result in a considerable saving for you. In this blog, we will provide an overview of the process of claiming back stamp duty.

Eligibility Criteria

To be eligible to claim back stamp duty, you must meet certain criteria. Firstly, the stamp duty must have been paid within the last four years, and the transaction must have been a qualifying one. In addition, you must have a valid reason for claiming back the stamp duty. Some of the most common reasons include errors in the calculation of stamp duty, misrepresentation of the property, and the sale of a property within a short period of time.

How to Claim Back Stamp Duty

The process of claiming back stamp duty can be a complex one, and it is important to understand the steps involved to ensure a successful claim. The first step is to gather all the necessary documentation, including receipts, invoices, and any other relevant records that prove that you have paid stamp duty.

Once you have all the necessary documentation, you will need to complete a stamp duty claim form and submit it to the relevant authorities. This form will need to include details of the transaction, the reason for the claim, and any supporting evidence. If you use a company like ours we will be able to have one of our experts complete the file for you.

It is important to note that the process of claiming back stamp duty can be time-consuming and may take several months to complete. However, the amount that you may be able to claim back can be substantial, so it is well worth the effort. In the case of properties where they are not fit to be lived in at the point of purchase, these can often be resolved in around 6 weeks from submission of a file of evidence.

Final Thoughts

In conclusion, claiming back stamp duty can be a complicated process, but it is worth pursuing if you believe that you are eligible. The key to a successful claim is to gather all the necessary documentation and complete the claim form accurately and thoroughly. With the right approach, you may be able to reclaim a significant amount of money that would otherwise have been lost. Many of our clients have claimed back thousands that they were completly unaware that they were due.

If you are unsure about the process of claiming back stamp duty or if you need help with your claim, it is recommended that you seek the advice of a professional, such as Stamp Duty Rebates to help you with the process.