Pre-Completion Investor Saves £36,145 on SDLT

Every year thousands of people overpay their Stamp Duty Land Tax (SDLT) due to incorrect calculations made using HMRC’s calculator, which is the predominant tool used to calculate Stamp Duty for investors and developers.

The HMRC calculator produces a guide SDLT figure, which works best for simple transactions. However, the HMRC calculator does not take factors such as the purchase of mixed-use land or complex transactions into consideration, which can lead to overpayments.

When overpayments occur – often due to the expectancy of solicitors to be both property and tax experts – property developers, investors and residential buyers can seek SDLT relief.

A developer referred pre-completion investor Mr Qaasim to us as he was in the process of purchasing three new build properties. He wanted to ensure he had been quoted the correct SDLT liability on the transaction.

Ensuring success

 After initial contact, our expert team began a full review of the client’s purchases to assess whether the client had been quoted the correct amount of SDLT liability on the three new build properties. 

As a result of our investigation, we found that the client was eligible for SDLT relief and we were able to save Mr Qaasim £36,145 on stamp duty land tax. 

Client feedback

Our client was pleased with the SDLT savings we helped to secure and is now looking for his next purchase, for which he intends to use our services again. When asked about the service provided, Mr Qaasim said:

“Innovation 4 Business have shown me nothing less than stellar work and determination in supporting me through my purchase.  

“They listened and helped me through the process every step of the way until the end.  

“I was incredibly impressed with the quality of service and would highly recommend to anyone seeking advice or assistance to contact Innovation 4 Business.”