SDLT Overpayment: Developer Receives Stamp Duty Refund of £26,000


SDLT Overpayment: Developer Receives Stamp Duty Refund of £26,000

Every year, many people across the country overpay on their Stamp Duty Land Tax (SDLT).

Often, HMRC’s calculator is the main tool used to calculate SDLT rates. Unfortunately, this calculator only provides a guide figure and does not consider factors such as the purchase of mixed-use land or complex transactions.

Often, the unrealistic expectancy of solicitors to be both property and tax experts can lead to SDLT overpayments. It is no wonder that our partner Cornerstone Tax claim 120,000 buyers in the UK may be owed SDLT refunds.

A successful developer, who had completed a project in the last four years, recently approached us. They contacted us with the full support of their solicitor to explore the possibility of SDLT overpayment. They wanted our experienced team to provide stamp duty advice and see whether they could claim for a stamp duty refund.

Ensuring success

Our expert team began a full review of the client’s project to assess whether the client had paid the correct amount on completion of the development.

The team was able to investigate and found that the client had overpaid for their stamp duty by £26,000.

Client feedback

Our client was ecstatic with the savings they had qualified for. When asked about the service provided, they said:

“My first contact with Innovation 4 Business (I4B) was on the 11th April 2020. A known Property Developer from Gloucester introduced me to Phil Moore and following a telephone conversation, I received an email explaining the service.

I contacted my Solicitor and forwarded the email, asking for an opinion. My solicitor was clear in his response. He explained that his firm are not tax experts and based on the information he received, he was keen to see the outcome should I instruct I4B.

My company instructed I4B on the 16th April 2020. They required a few details of a property that we recently purchased. All the information was readily available and within a timeframe of less than 30 minutes, we had passed over the details and signed the instruction documents.

Phil contacted me a few times with a couple of questions and on 21st May, he informed me that we had a refund from HMRC of more than 50% of what we paid out in SDLT.

Frankly, I knew from my Solicitor that we were well within our rights to request for a SDLT refund. However, what I was astonished with was the speed at which I4B had dealt with my refund.

What an absolutely, brilliant, service.”


Innovation 4 Business

Our experienced tax specialists can help you navigate your way in these complex arenas. If you are a developer, investor or have completed on a residential purchase, and would like to find out whether you have overpaid on your stamp duty, we can help.

Find out how we saved a developer £161,500 on SDLT!

How do I know if my property would qualify for a stamp duty refund?

If you’re unsure whether a property you have bought would qualify for a SDLT refund, there are a few features to consider:

  • Did you purchase land with the benefit of planning permission to allow the development and construction of residential housing?
  • Did you purchase an office building with permitted development rights for conversion to residential housing?
  • Did you purchase commercial property together with residential space or mixed-use land?

If you are unsure whether your property qualifies, the easiest thing to do is get in touch with our knowledgeable team by calling 0121 309 0222 or emailing to see what we can do for you.