Recently HM Revenue and Customs have announced changes to the structure, rates and threshold of Stamp Duty land tax. These changes are likely to affect both purchasers and vendors of UK property with a value of £125,000 or more.
Whereas before the calculation of stamp duty land tax, or SDLT, was charged on a percentage of price paid for the purchase of the property, this was dependent on the rate band into which the property fell. Under the changes, which were introduced in December 2014, SDLT will now be charged at each rate on the portion of the property price which falls into a specific band.
The changes make calculating SDLT more complex than ever, especially for individuals and companies who own numerous properties! Do not worry! Ralli Solicitors, expert, Manchester based commercial solicitors, are on hand to provide legal advice ensuring that all your SDLT requirements are met.
Over our years of practice we have developed particular specialism in this area, this specialism has resulted in us becoming the leading property litigation solicitors in Manchester. For further information about how we can help you regarding the new SDLT legislation, one of our dedicated team can be contacted by calling: 0161 832 6131.