Yes, in certain situations, you may be eligible for a Stamp Duty Land Tax (SDLT) refund in the UK. Here are some scenarios where you might qualify for a refund:
- Overpayment: If you’ve made an error on your SDLT return and overpaid, you can request a refund for the excess amount. You need to claim the refund within 12 months of the filing date of the original return.
- Multiple dwellings relief (MDR): If you’ve purchased multiple residential properties in a single transaction, you may be eligible for MDR, which can reduce the SDLT payable. If you’ve already paid the full amount, you can apply for a refund of the overpaid SDLT. A claim for MDR should be made within 12 months from the filing date of the SDLT return.
- Replacement of the main residence: If you’ve paid the higher rates of SDLT for additional properties (3% surcharge) when buying a new main residence before selling your previous one, you may be eligible for a refund of the higher rates if you sell your previous main residence within three years of purchasing the new one. You should claim the refund within 12 months of the sale of your previous main residence or within 12 months of the filing date of the SDLT return for the new residence, whichever is later.
- Annexes and granny flats: If you paid the higher rates of SDLT on the purchase of a property that includes an annex or a granny flat that is separately sold or rented, you may be eligible for a refund if the annex or granny flat meets certain criteria.
Remember, in all circumstances you must claim the refund within 12 months of the filing date of the original return or sale of your main residence to be eligible for a refund. If you think that you are eligible for an SDLT refund, get in touch with us today and we can assist with your claim.