Stamp Duty Land Tax Advisor

SDLT Tax Advice and Representation

Patrick Cannon is a leading UK Stamp Duty Land Tax advisor with over 35 years of experience in the field – both as a solicitor and as a barrister. He is a member of  Cannon Chambers, tax chambers in London.

As a specialist tax barrister, Patrick advises on most aspects of tax, and how to ensure compliance with its increasingly complex rules.

His services include reducing liability where legitimate savings are available, dealing with HMRC SDLT enquiries and representing clients in SDLT appeals before the tax tribunals.

Other SDLT Areas Patrick Can Advise On:

• SDLT Avoidance Schemes 
• SDLT Planning
• Reclaiming Stamp Duty
• Multiple Dwellings Relief for SDLT
• SDLT Anti Avoidance Rule
• Stamp Duty Appeals
• Mixed Used Claims
• SDLT on Divorce and Separation
• SDLT for Non-UK Residents

If you require specialist Stamp Duty guidance, advice or representation, contact Patrick Cannon here.

What is Stamp Duty Land Tax?

SDLT is a tax payable by the buyer on all properties in England and Northern Ireland. It is levied on the price of the property. Second or additional homes carry an extra 3% surcharge on the standard rates of SDLT. There are a number of exemptions and mitigations available in SDLT, many of which are complex and require expert legal advice to ensure that they are legitimate.

What Is SDLT Charged On?

SDLT is charged on the price of the property at the time of purchase or, in some cases, on market value. It is a self-declared tax and must be paid within 14 days of the date of the transaction. This is usually handled by your conveyancer.

What are The Rates of Stamp Duty Land Tax?

Rates for a single property

These rates apply if it is the only residential property you (and your spouse or civil partner) own. You should add 3% to each of these rates if you will own another residential property at the end of the day of purchase unless you are replacing your main residence.

Full update rates can be found on the HMRC website here

Higher rates for additional properties.

If an individual buys an additional dwelling or a company buys any dwelling, then the 3% additional rates will normally apply to that purchase.

What rate of stamp duty do you pay if it takes longer than 36 months to sell your home?

If you buy a replacement main residence before you sell your current one, then you have to pay the 3% additional rates but can then reclaim that money if you sell your old home within 36 months of buying your replacement. If you take longer than 36 months to sell your old home HMRC will normally refuse you a refund but you may be able to claim a refund if there were exceptional circumstances that could not have been foreseen.

What are the rates of stamp duty if you are not a UK resident?

There is a 2% surcharge on purchases of dwellings in England and Wales by non-UK resident purchasers, including certain UK resident companies controlled by non-UK residents.

Are there any special rates for stamp duty?

Yes, there are various different rates that can apply according to the nature of the property, the transaction concerned and the type of buyer. These rates vary from nil for first time buyers to 17% for non-UK resident buyers of additional dwellings above certain amounts.

Can You Avoid Paying Stamp Duty?

Exemptions to stamp duty are listed below. If you do not fit into any of those categories, you should be very wary of any scheme that suggests you can be exempt from paying stamp duty.

Are There Any Exemptions From SDLT?

There are some legitimate exemptions for SDLT. All of them carry specific conditions which must be met, and it is a good idea to get legal advice if you are in any doubt about fulfilling the criteria. SDLT exemptions include:

• First-time buyers (for properties not exceeding £425,000)
• Buying an uninhabitable property (the rates for non-residential property apply)
• Buying a mixed-residential and non-residential property (the rates for non-residential property apply)
• Buying a property for no more than £250,000
• Transferring a property – through a will, gift, or as part of a separation or in a divorce.
• A builder or developer sells a property to an individual and buys the individual’s original home.
• An employer buys an employee’s house
• A compulsory purchase: for example, if a local authority buys a property in order to sell it to a developer, the LA will be exempt from SDLT.
• A developer may be exempt from SDLT if they buy property or land in order to build a structure as part of a planning obligation (eg building a school).
• A charity buys property for charitable purposes.
• Registered social landlords

How Can Patrick Cannon Help?

Patrick Cannon is a specialist tax barrister with a wealth of experience in Stamp Duty Land Tax, offering expert guidance, advice and representation in all aspects of this complex property tax. Whether you are concerned about an SDLT mitigation scheme, are looking for help reclaiming overpaid stamp duty, or facing an HMRC investigation, contact Patrick here.

Patrick is authorised by the Bar Standards Board to accept Direct Access work and to undertake litigation, which means that he can advise corporate or private clients directly, and deal directly with HMRC on their behalf. Patrick works as a Stamp Duty Land Tax adviser on the basis of fixed fees agreed in advance via his Clerk, and he does not charge open-ended hourly rates.

Frequently Asked Questions