PROMOTION GGG GGG Stamp Duty Land Tax Are you paying the correct amount? There could be scope to reclaim the additional 3% SDLT charge should you dispose of your previous residence within 3years of the purchase of the new. tamp Duty Land Tax (SDLT)is payable when land or property and it has become ever more date, thereafter any overpaid SDLT may not be recoverable Weh the filing date now being only 14 days from the date of completion (in most circumstances) complex over the last number of years. With the introduction of the higher 3% rate for the purchase of additional residential properties there are now potentially three SDLT sets of rates that could apply when purchasing a property in your individual name. When someone is acquiring a the deadline for review has reduced. Ifyou have previoasly soldyour home but have taken some time Our recommendation is to review the transaction ahead of completion to ensure to find a new one then the lower rates that the SDLT return is submitted on the of residential SDM.T could be payable even if you own a buy to let property. Ifyou are purchasing a residential peoperty with a large plot ofland or it is connected to a non-residential correct basis initially. This will require some upfront work but will likely sanve you time and cost in the longer term. residential property then you need to understand whether they and any joint purchaser owns an interest in another residential property to see if the surcharge property then it may be possible to claim the lowest rates of SDT on rates will apply. The other property could be anywhere else in the world. If you, as the purchaser, are married or in a civil partnership then the properties owned by the other party to your relationship will need to be considered also Ifyou are purchasinga residential property with a large amount of land or another type of property in situ then it may be considered non-residential for the purposes of SDLT. This is especially beneficial should you be subject to the the transaction, or at least on a proportion of the price paid Ifthe land transaction inchudes more than one single dwelling then it may be possible to reduce your SDLT exposure. This could be through looking at the reliefs for annexes in the context of the additional 3% SDLTrates or through a claim for Multiple Dwellings Relief. Jo White, Tax Consultant at Kreston Reeves E: jowhite@krestonreeves.com T: 0330 124 1399 The key to ensuringyou are paying the correct SDLT liability is to properly review the transaction taking place and the circumstances to which the peoperty is being acquired As a taxpayer you have 12 months to higher 3% rates on initial review There are some planning KRESTON REEVES opportunities that can be considered when assessing the amount of SDLT that is due on a transaction: amend a SDLT retun from its submissionn Kreston Reeves has offices in Brighton, Chichester, Gatwick, Horsham, Worthing, London and Kent. www.krestonreeves.com PROMOTION GGG GGG Stamp Duty Land Tax Are you paying the correct amount? There could be scope to reclaim the additional 3% SDLT charge should you dispose of your previous residence within 3years of the purchase of the new. tamp Duty Land Tax (SDLT)is payable when land or property and it has become ever more date, thereafter any overpaid SDLT may not be recoverable Weh the filing date now being only 14 days from the date of completion (in most circumstances) complex over the last number of years. With the introduction of the higher 3% rate for the purchase of additional residential properties there are now potentially three SDLT sets of rates that could apply when purchasing a property in your individual name. When someone is acquiring a the deadline for review has reduced. Ifyou have previoasly soldyour home but have taken some time Our recommendation is to review the transaction ahead of completion to ensure to find a new one then the lower rates that the SDLT return is submitted on the of residential SDM.T could be payable even if you own a buy to let property. Ifyou are purchasing a residential peoperty with a large plot ofland or it is connected to a non-residential correct basis initially. This will require some upfront work but will likely sanve you time and cost in the longer term. residential property then you need to understand whether they and any joint purchaser owns an interest in another residential property to see if the surcharge property then it may be possible to claim the lowest rates of SDT on rates will apply. The other property could be anywhere else in the world. If you, as the purchaser, are married or in a civil partnership then the properties owned by the other party to your relationship will need to be considered also Ifyou are purchasinga residential property with a large amount of land or another type of property in situ then it may be considered non-residential for the purposes of SDLT. This is especially beneficial should you be subject to the the transaction, or at least on a proportion of the price paid Ifthe land transaction inchudes more than one single dwelling then it may be possible to reduce your SDLT exposure. This could be through looking at the reliefs for annexes in the context of the additional 3% SDLTrates or through a claim for Multiple Dwellings Relief. Jo White, Tax Consultant at Kreston Reeves E: jowhite@krestonreeves.com T: 0330 124 1399 The key to ensuringyou are paying the correct SDLT liability is to properly review the transaction taking place and the circumstances to which the peoperty is being acquired As a taxpayer you have 12 months to higher 3% rates on initial review There are some planning KRESTON REEVES opportunities that can be considered when assessing the amount of SDLT that is due on a transaction: amend a SDLT retun from its submissionn Kreston Reeves has offices in Brighton, Chichester, Gatwick, Horsham, Worthing, London and Kent. www.krestonreeves.com