Stamp duty land tax (SDLT)
26th April 2019
- For transactions with an effective date (usually completion) on or after 1 March 2019, the due date for the payment of SDLT is now 14 calendar days after the effective date. The return also must be filed in the same timescale.
- Where a company purchases a residential property for over £40,000 it must pay the 3% supplementary rate. A residential property is defined as one which is used or suitable to be used as a dwelling. Properties which are non-residential are taxed as commercial properties. HMRC must consider the state of the property when acquired, not whether it could be renovated at a later state. So a derelict bungalow could not be defined as a residential property.
- The additional dwelling supplement in Scotland increased from 3% to 4% on 25 January 2019.