Individuals
Purchasing a property and the associated costs of doing so are one of the most important and expensive transactions you are likely to undertake so paying more SDLT than you should is not only extremely frustrating but avoidable.
There are different rates of SDLT which may apply depending on your other property ownership, residence and type of property aquired. There are also a number of reliefs and reductions which can be claimed to reduce the amount of tax payable.
Your conveyancer may not be able or willing to advise you on tax matters and Relatus regularly uncover mistakes or overpayments which could have been avoided had the correct advice been obtained at the outset. To make matters worse there is a deadline for HMRC to receive claims resulting in refunds of overpaid tax and if the deadline is missed the refund is no longer recoverable.
Companies
Purchases of residential property by a company are subject to a higher rate of SDLT but there are still reliefs and reductions available depending upon the type of property being purchased.
The purchase may consist of more than one dwelling, a mixture of commercial and residential elements or there may be land which should be treated differently to the property itself. An area which is gaining momentum with certain claims companies is in relation to uninhabitable properties and the tax savings available provided the property meets the strict criteria. This is an area plagued with false claims leading to adverse Tribunal decisions
Relatus have assisted many companies to reduce the amount of SDLT payable and our expert advice ensures that you will pay the correct amount of tax.
Compliance
We also act on behalf of individuals and companies who are involved in the compliance process and Relatus Ltd regularly receive favourable closure notices from HMRC.
We can assist you in justification of your SDLT1 return and if necessary go on to challenge any HMRC adverse decisions via the appeal and internal review process, or even support an appeal to the Tax Tribunal if we consider that HMRC are not applying the FA 2003 correctly.
We have also issued an application for Judicial Review following a number of incorrect decisions by HMRC which they refused to correct. Our application resulted in HMRC’s solicitors withdrawing the incorrect decision and even paying our costs!
Relatus Ltd will pursue your case with confidence and vigor to secure the best possible outcome for our clients.