Important Additioanl Information for members claiming stamp duty refund.
Below is a new sample letter to help owners in reclaiming stamp duty.
BT- Stamp Duty Land Tax
Our Ref: CL??????
Payment of Stamp Duty at the Higher Rate:
I am writing to you regarding the payment of Stamp Duty on the purchase of my buy to let holiday home business at:
Your holiday properyy address
I am making a claim for overpayment relief under paragraph 34 Schedule 10 of the Finance Act 2003.
- UTRN XXXX (This number is on your tax return)
- Amount £000 (insert amount of duty paid)
- The property was purchased on 30th December 2020. My solicitor made the error of placing the property in the residential property category and not as a business property. Therefore, the purchase price paid put the property above the current residential Stamp Duty threshold. The property was purchased as a business and is classed as business by the local authority- Cornwall County Council. The property can only be let for ten months in any one year and individual occupancy is a maximum of 28 days. As a business property, the purchase price paid would fall below the current business Stamp Duty threshold.
- Change from residential property, Code 02, to non-residential property Code 03.
- Sort Code-
- Account Number-
I look forward to you response at your earliest convenience. In the meantime, should you require any further information, please contact me.