Budget 2018: the chancellor has announced changes to the higher rates of Stamp Duty Land Tax for additional dwellings clarifying a major interest and extending the deadline for submitting amended returns.
For land transactions effective on or after 29 October 2018:
- The definition of ‘major interest’ is clarified to ensure that the Higher rate of SDLT will apply to undivided shares in a major interest in a dwelling.
- The deadline for amending an SDLT return to claim relief from the higher rate as a result of a subsequent disposal of a main residence will be extended to the later of 12 months from:
- The effective date of the subsequent disposal.
- The filing date for the return.
Useful links:
SDLT Residential Higher Rate: at a glance
Subscriber Guide: SDLT Residential Property Higher Rates
External link
HMRC: Changes to the higher rates of Stamp Duty Land Tax for additional dwellings
