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TAX TIP TUESDAY: Can You Claim Back Thousands in SDLT? It is possible

Our 5-minute read – Tax Tips – for UK doctors and dentists will help you save tax, get organised with your tax affairs and make sure you meet important deadlines with ease.


This article does not constitute advice. Professional advice should be taken prior to acting on any part of it. The Financial Conduct Authority does not regulate tax advice. 


Many people think that Stamp Duty Land Tax (SDLT) is yet another unavoidable cost they’ll incur when purchasing a home or buy to let property. But with exemptions like first time home buyer waivers and surcharges for buying seconding properties, the rules for SDLT aren’t so clear cut, and as a result, you could either owe additional tax or perhaps be due a refund.

The government owing money to you might seem too good to be true, but there are thousands of homeowners that have actually received millions of pounds worth of refunds from overpaid stamp duty.


Stamp duty is normally set out as:

The rules concerning SDLT are actually quite complicated, and even though your lawyer should handle the payment, even they can get confused.


Circumstances for a refund

So how can you make sure that you’re repaid any tax that you have overpaid? The one particular rule that has caused an overabundance of tax to be paid is the second property surcharge — if you buy a second property you must pay the stamp duty (with surcharge) upfront. Some people aren’t aware though, that they are actually eligible for a refund as long as they sell the first property within three years.


Reclaim overpaid stamp duty

After filing your returns, you have 12 months to amend anything you’ve filed, including if you’ve overpaid any tax. As many people will sell their first homes in a timely manner, this is an easy way to claim back the thousands of stamp duty that you paid while purchasing your new home.

If selling your home or buy to let property proves difficult, no worries. You have up to four years from the transaction date to claim your refund. You’ll need to get in touch with your lawyer to confirm the exact amount of tax paid so you can begin the process and get in touch with the Stamp Duty Land Tax Office. You’ll need to include a copy of the original SDLT return along with an explanation of why you overpaid, which areas are wrong and the revised tax amount. Additionally, you should confirm the amount of money you’re due and who they should repay.


If you still have questions about stamp duty land tax, including when it is due and how much you will owe in the event that it is payable, contact us today.


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