Reprieve for housing association cost sharing groups?
After years of uncertainty, the announcement that the…
Read More › ›The changes will affect purchasers of land (which includes tenants taking leases) in England and Northern Ireland, and conveyancers and other agents who submit SDLT returns and make SDLT payments on behalf of purchasers.
However, the shortening of the time limit to file the SDLT return and pay the SDLT due will not change SDLT liabilities for a purchaser.
If you complete a purchase or a lease after 1 March 2019, it is vital that you ensure any SDLT returns are submitted and any SDLT paid within 14 days after the date of completion or, if sooner, the effective date of completion. Failure to do so will result in a penalty being payable together with late payment interest.
Usually your legal advisers will deal with this for you, however if you are not legally represented, it will be your responsibility to arrange for submission of any SDLT return and payment of any SDLT within the required, shortened timeframe.
For more information, or if you are intending to purchase or take a lease of property, please contact our Commercial Real Estate Team.
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