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

Budget 2018 live highlights

Budget 2018 summary

External link

HMRC: Changes to the higher rates of Stamp Duty Land Tax for additional dwellings

 

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