Key points
- Stamp duty land tax is payable by the purchaser within 14 days of the effective date – time is of the essence.
- The amount of SDLT due will depend on the profile of each purchaser the nature of the property acquired and whether any reliefs are available. These issues can be judgemental.
- The residential SDLT bands changed with effect from 23 September 2022.
- Applying the right rates of claiming reliefs could save thousands of pounds.
- There is a 12-month amendment window so all is not necessarily lost if a valid claim has been missed.
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