Stamp Duty Land Tax (SDLT) is calculated as a percentage of the property value, but the reliefs are often either missed or misapplied.
Residential | Commercial | Leasehold
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SDLT is a self-assessed tax paid when purchasing a property. While you may usually rely on your conveyancer to calculate this correctly, the responsibility ultimately falls on you. At SDLT.app, we not only ensure your SDLT is calculated accurately, but we often help you save money in the process.
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30% of SDLT is miscalculated, contributing to £2bn+ a year.
Overpayment
It’s important to note that the 50+ reliefs often do not result in a reduction of the SDLT rate.
Underpayment
Incorrect applied relief may result in HMRC requiring repayment of the improperly claimed amount.
What is SDLT?
Stamp Duty Land Tax (SDLT) is a tax paid to the government when purchasing property or land in England and Northern Ireland over a certain threshold. Essentially, it acts as a purchase tax on property. The amount payable depends on the property’s price and whether you qualify for any discounts or exemptions. It’s an important cost to consider when budgeting for your new home or investment property.
Here are some guides to help you understand SDLT more.
SDLT Buzzwords
If you hear these words associated with your recent purchase. You are subject to complicated SDLT calculation which could be miscalculated.
Agricultural Land
Usually taxed at lower rates
Property Traders
Can Claim SDLT relief
Transfer of Equity
May trigger SDLT
Uninhabitable
May qualify for lower non-residential rates
Staircaising / Shared Ownership
Potentially triggering SDLT