Stamp Duty Refund

Article provided by: ThomTax Accounting & Tax

Stamp Duty Refund

Our solicitors assist you in claiming back stamp duty. The process is fast, and our charges favorable. We can help you with claiming back your second home stamp duty when you sell your previous property. We also offer first-time buyer assistance on equity-sharing deals.

This compensation applies to shared ownership first-time buyers who have finished paying for their property at a specific given amount of time. We would like to have your request in less than three months after selling your main property or, in 12 months after the registration date of coming back to your new home, subsequently.

There are several factors why you may purchase a second property that does not substitute your main home. One of these reasons, to name a few, is in the case of losing a buyer. You may have to unwillingly purchase your new property, in fact, without disposing of your primary residence. In matrimonial cases, such as when you might be going through a divorce, you may be forced to buy a new home before your previous home is sold. All the same, with time, perhaps there will be a moment where you decide on purchasing now and selling your former main property in the future.

If you sell your former main property in 3 years of paying the higher rates of stamp duty land tax, you can apply to us for compensation of the extra charges of stamp duty. As a result of this, we will enable you to claim back the second property stamp duty. You can reach us by visiting our online platform to write to us and submit the application form online. Besides, you can send us a mail after printing out the completed online form to our postal address.

We appreciate it if you provide us all your details containing the former property’s address you have just sold, as well as the property address consisting of the extra stamp duty. Make sure to include details on the stamp duty paid from your purchase return in addition to the amount of the higher rate of stamp duty land tax you are claiming back.

The current stamp duty rate is 4% of the purchase price. You can refer to our online stamp duty calculator to assist you in estimating what the higher rate is. We usually take 15 business days for your payment. It is our standard amount of time to process your payment. However, please note that this might take longer if you do not provide us with all the necessary information we need. If it takes longer than the stated number of days, you will not be compensated for the delay. Even so, you can send us a request and claim to be paid the interest in the repayment. It is after that automatically included on above it once it is repaid.

Finally, please note that you have a maximum of at least 12 months to apply to us, only once your house is sold, to reclaim your overpaid stamp duty.

Our team is happy to answer and help you with all your stamp duty requests.

Please call Revenue to learn more about our services.

 

Stamp Duty Refund