If you’re based in the UK and have any questions or concerns regarding Stamp Duty Land Tax, and in particular claiming an SDLT refund, then David Hannah and the team at Cornerstone can help.
Whether you’re going through the process of buying a home right now or you’ve bought a property or land within the last few years, it’s always a smart decision to check if you’re eligible for an SDLT refund.
In 2017-18 it’s estimated that more than £105 million in SDLT refunds were issued by HMRC. So, it’s fair to say that a lot of homebuyers are overpaying on SDLT.
In this article, we’re looking at why so many homebuyers overpay SDLT, how you can find out if you’re eligible for a refund, and why it’s important you consult with a tax advisor specialising in SDLT.
Are you eligible for a stamp duty refund?
With so many homebuyers finding out they’re eligible for an SDLT refund every year, it’s within your best interests to look into whether or not you’ve overpaid SDLT yourself.
The issue, and this is what causes most overpayments in the first place, is that SDLT is a complex area of tax.
In the last 10 years, SDLT has been subject to more alterations than any other comparable tax.
This has been compounded in recent years as the government has made huge changes to the rates due to implementing ‘holidays’ and other measures to deal with the impact of the pandemic on the housing market.
There are also a number of special exemptions that you may be eligible for depending on your personal circumstances.
The government does provide a stamp duty calculator, but they say themselves that this is only to be used as a guide.
It’s not enough to assume you’ve paid the correct amount of tax just because you’ve used a stamp duty calculator, or because your solicitor calculated your Stamp Duty.
The only way to be 100% if you’re eligible for a refund is to work with a tax advisor specialising in SDLT like David Hannah.
David is knowledgeable on the topic and will be aware of what the laws were at the time you made your home purchase and will be able to double-check you paid the correct amount.
Working with David Hannah at Cornerstone Tax Advisors
David Hannah works for Cornerstone Tax Advisors. Cornerstone is one of the UK’s fastest-growing and leading tax advisory firms and has principal tax advisors helping people across the UK with SDLT and other tax issues.
David has been one of the leading voices on SDLT in the UK for more than three decades, and he’s carved out a niche specialising in helping clients claim tax refunds where they are due.
As discussed, SDLT is a complex area of law and requires an intricate understanding of this area of tax. No matter if you’ve worked with a tax advisor before, if you want to be sure you’ve paid the correct amount of SDLT you should call David Hannah at Cornerstone.
Cornerstone customer reviews and testimonials
Cornerstone Tax Advisors and David Hannah have a close to 5-star rating on Trustpilot. Some of their recent reviews are:
“An excellent experience from a very busy company. Advice was concise and understandable in a difficult subject. In fact a minefield. Thanks for all your help and hopefully all your clients can have the same level of service.”
“We used these guys to advise on stamp duty liability when buying our apartment. Apart from a slight hiccup at the start due to emails not arriving, they did exactly what they said they would do, and achieved a very welcome SDLT refund from HMRC in the time frame they said.”
“Great professional and friendly service.”
“Fabulous experience working with Cornerstone on MDR for SDLT. I phoned them on Monday (never having worked with them previously) and I have everything sorted and at the solicitor 2 days later – very impressed and will definitely be working with them in the future!”
