Landstar Accountancy are Stamp Duty reclaim specialists
We specialise in reclaiming overpaid Stamp Duty on purchase of residential and non-residential properties.
Please note we absolutely do NOT engage in any aggressive stamp duty land tax planning. All of our reclaims are tried and tested and based upon current legislation. What’s more all reclaims require HMRC’s review and approval prior to you receiving your refund. We ensure you have paid the lowest amount possible WITHIN the law. It is not possible to reclaim stamp duty on every purchase, however we estimate that in some parts of the country Stamp Duty has been overpaid in as many as 1 in 5 purchases.
There are two broad types of refunds we deal with.
A) Overpayment reclaims
Since Finance Act 2003 introduced Stamp Duty in its current form there have been a vast number of changes to the legislation. There have been sweeping changes, notably the change from a slab to a slicing system and the introduction of a 3% surcharge discussed below. Importantly alongside these headline grabbing changes have been a huge number of smaller, subtle tweaks to the legislation. It’s been difficult for solicitors to keep up with the volume of changes and most conveyancing solicitors’ terms specifically state they will not advise upon Stamp Duty.
This is where we come in. By specialising in Stamp Duty we have unrivalled expertise and knowledge of this complex area of tax. Our experience of how HMRC administer and interpret the legislation is crucial. We think outside the box and look at your transaction with fresh eyes. There may be some characteristic of your transaction that means we can apply a certain piece of legislation to significantly reduce the Stamp Duty that you have paid. We fully review every aspect of your purchase in detail to ensure that you have paid the correct and minimum amount due under the law. If we believe there is a valid reclaim then we build a detailed claim, which HMRC review prior to making a decision as to whether to refund you or not.
Most types of reclaim of this nature have a 12 month plus 30 days time limit from completion of your purchase. It’s therefore very important you get in touch with us as soon possible for a completely free review of your purchase.
B) 3% Surcharge reclaims
Since April 2016 a supplemental 3% stamp duty is applied on top of the ‘normal’ rate of Stamp Duty for purchases of ‘additional’ residential properties. There are however a number of reliefs from applying this supplemental tax, the most well-known of which is if the property is a replacement of your main residence. Additionally, if you sell your former main residence within 3 years of purchase of your new main residence then the 3% can be reclaimed.
In many cases this is straightforward work and you may not need our assistance. However due to the complexity and subtlety of the legislation many people have incorrectly paid the 3% Stamp Duty and do not realise they shouldn’t have paid it. Our in depth knowledge of this relatively new piece of legislation means that by speaking to us you can ensure that you have paid the correct amount of Stamp Duty.
The deadline on these 3% surcharge reclaims can be as little as 3 months so please do get in touch without delay to have your circumstances reviewed.
Important facts about Landstar Accountancy:
- Every claim we have ever submitted to HMRC within the statutory time period for a reclaim has been approved by HMRC
- We have been completing no success, no fee Stamp Duty reclaims since 2013. We are unaware of any firm in the country with this length of experience in this type of work.
- Every client receives a detailed tax report explaining the exact reason for a refund for you to review prior to us submitting any claim on your behalf
- Landstar Accountancy are Chartered Accountants and we are an member firm of the Institute of Chartered Accountants in England and Wales (ICAEW) Practice Assurance Scheme
For most types of reclaims there is a strict deadline of 12 months and 30 days from purchase to make a reclaim, so please get in touch using any of the methods below for a free, no commitment appraisal of your purchase:
Phone: 0203 3979 045
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