Dilapidated property: When can SDLT be reclaimed
HMRC have issued a warning to taxpayers to be vigilant of tax agents offering to secure Stamp Duty Land Tax (SDLT) repayments on certain property purchases. The warning reminds property buyers to be aware of tax agents claiming that, for a fee, SDLT can be reclaimed on residential property purchases when they are in need of repair. Such properties in need of repair when purchased are generally chargeable to the residential rates of SDLT, regardless of their condition. HMRC say that claims of this kind often leave the homeowner liable for the full amount of SDLT plus penalties and interest. They [...]