SDLT repayment claim deadline - shared ownership properties

22 October 2019

In November 2017, the Government introduced a Stamp Duty Land Tax (SDLT) relief for first-time buyers of a residential property for use as their only or main residence, where the purchase consideration did not exceed £500,000. No SDLT is due if the purchase consideration does not exceed £300,000, and a 5% rate applies to excess consideration between £300,000 and £500,000.

A number of conditions applied, one of which was that the relief was not available to first time buyers purchasing through approved shared ownership schemes who did not elect to pay SDLT on the market value of the property, but instead paid SDLT in stages.

The relief was extended to such buyers with effect from 29 October 2018, backdated to 22 November 2017. Any eligible purchaser who paid the full amount of SDLT between 22 November 2017 and 28 October 2018 can claim a repayment, with a deadline of 28 October 2019 for submitting a claim.

Claims for refunds must be made in writing to HMRC with relevant details of the transaction, including:

  • The reason why the amendment is being made (i.e. claiming first time buyers’ relief)
  • The UTR for the original SDLT return
  • Revised figures and confirmation of the amount of SDLT to be refunded
  • Confirmation of who to pay.

Claims should be submitted to:
BT - Stamp Duty Land Tax
HM Revenue and Customs
BX9 1HD.
Clearly, any eligible taxpayer who has not yet claimed the relief should do so as soon as possible, and advisers should highlight the deadline to clients that may be eligible.

Please contact Malcolm Pengelly or Jeff Webber for further information, or for assistance in submitting a claim.

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