For those who’ve missed it, the Government is currently running a consultation on its proposed changes for completion of SDLT returns and payment of tax due – including the proposed reduction in timescales.
Everyone who deals with property will be affected so take the opportunity to have your say!
The government announced at Autumn Statement 2015 that it will:
reduce the stamp duty land tax (SDLT) filing and payment window from 30 days to 14 days in 2017 to 2018
consult on the SDLT filing and payment process in 2016
SDLT is chargeable on acquisitions of land in England, Wales and Northern Ireland. The current processes for filing a SDLT return and paying the SDLT are effective, but improvements could be made which would increase efficiency, and reduce the compliance burden and costs for both HMRC and customers.