Our customers say Excellent 5 based on 800 reviews
As the Stamp Duty and Land Tax on property rules are complex, many individuals end up overpaying the tax. The department has refunded millions of pounds of overpaid stamp duty amount to landowners over the years.
With the laws changing every few years, there is a fair chance that you have overpaid the SDLT and could be eligible for a refund. Although many individuals and businesses, particularly the latter, seek the services of reputed legal conveyancers or solicitors to work out tax and refund amounts, the individuals and companies have to pay the tax.
As an investor, it is easy to overlook stamp duty tax or pay an exorbitant higher amount than legally required. Suppose you are an investor – an individual or a business – buying an additional property (that doesn’t replace the primary property) or getting a ‘buy-to-let’ residential property. In that case, you could be paying a higher SDLT or higher surcharge.
With tax rules undergoing a massive re-haul in recent years, it is possible that many businesses and individuals do not have a complete understanding of the tax rules. Owing to this, they might end up overpaying their due tax amounts.
The property developer is also subject to certain legal obligations that they are required to fulfil. Planning permission is generally given to developers on a pre-condition that the developer would also develop certain basic amenities for the community. Some examples of these amenities include schools, parks and more.
Once the said obligation is completed, the property is transferred to the authorities to run. Here, the developer could end up paying two successive SDLT charges to the tax authorities - once when the land is bought from the original landowner and next when the developed building or school is handed over to the authorities. If such is the case, the developer can claim SDLT relief on the first sale.
The term property incorporation means converting a property interest from a single or partnership into a limited company. When you own a property through a limited company, you can enjoy several tax-saving benefits. You have to calculate the right amount of SDLT tax owed by you and accurately structure your portfolio so that you pay only the legally required amount.
The government introduced Research and Development Relief in the year 2000 to positively encourage and reward businesses that help scientific advancements and innovations across the country. Research and development are understood to happen when a company, with their projects, tries to advance the capabilities of technology or science. Although this is a highly beneficial and appreciated scheme launched by the then-government, it is not being claimed by at least a majority of companies, simply because they are either not aware of such a scheme or assume they won’t qualify for it.
Calculating the Stamp Duty Land Tax is undoubtedly a tedious and time-consuming one. The sheer number of times the tax laws have been tweaked and the complexity of the norms and calculation have ensured that SDL tax is one of the most complicated ones in the UK. That’s precisely why it is essential to seek the help of legal advisors and experienced solicitors who can guide you on paying only the required amount of tax and getting a refund on excess payment of SDLT.
Our expert business team is always available to answer your
questions and give you advice.
Our team comprises Chartered Tax Advisers with many years’ experience in the industry, former property lawyers, accountants, and financial advisers. you can be assured that our advice comes with the best available seal of quality and expertise.
Give us a call today on 020 3500 2646
to speak to our advisors, we'll find the right accounts & tax solution for you.
We're proud of our clients and their success. Find out more about them and
the help and support we provide.
Our goal is to provide the best service to all our clients, all the time.
Read what our clients say about us.
I am writing this email as a token of appreciation for Manish Garg, who is our lead accountant for the past...
Read moreWe work with DNS Associates for 4 years now and we always had a feeling that our problems and questions are top...
Read moreDNS Associates provides cost effective and very professional services. My accountant Sneha Gurudutta has been...
Read moreVery professional and efficient team. I will highly recommended to all small or big business owners...
Read moreI’m a new client and Debangshu Sarkar has been reliable, timely and informative to date. Very impressed...
Read moreExcellent services, my account manager Amit Gupta always there for me, excellent work on time and take...
Read moreI recently starteed my own company and in need of a good accountant. With my friends reference, I started...
Read moreI have been using DNS Services over a year from setting up my company till date. They are extremely professional...
Read moreWe use wide variety of softwares to manage your accounting and bookkeeping.
Consult our chartered tax advisor. Whether you’re a buy-to-let landlord, individual landlord, corporate landlord, property dealer, estate management, non resident investors, or a second home owner, we have packages and services to suit your every landlord and property need.
dns property tax services
Pacific House, 382 Kenton Road,
Harrow, Middlesex, HA3 8DP