Reasons for overpayment.
Below are some common reasons for overpayment of stamp duty.
Have you purchased a property with defects?
Did the property suffer from any of the following:
- An incomplete or non-functioning kitchen or bathroom.
- Structural issues such as subsidence, broken or rotten timbers.
- Lack of electricity and gas connections.
- Significant damp.
- Functioning heating system.
- Asbestos.
- Defective waste removal.
- Any other health and safety issues.
If so, you could be due a refund!
Have you purchased a second home with the intention of selling your old home?
If you purchased a second home, you will have paid an increased surcharge. You must have sold your old home within 3 years of buying your new home.
- Purchasing a second home before you have sold your old home in fear of losing a buyer and not wanting to give up the potential new property.
- Going through divorce proceedings? Often you buy new property before old home is sold.
- Bought a holiday home or a rental property but had a change of mind and decide to live there?
If so, you could be due a refund!
Were you a first-time buyer?
- You will be exempt from stamp duty if this was your first home, even if you have or do own commercial property.
- The value of your home must be under £500,000.00.
If so, you could be due a refund!
Have you purchased multiple properties?
- Have you purchased two or more properties in the same transaction?
If so, you could be due a refund!
Have you purchased a property with a self-contained annex on the land?
- The annex must be self-sufficient from the main property.
- If attached to the main property, the annex must have a lockable door separating the properties.
If so, you could be due a refund!
Have you purchased a mixed-use property?
Does the property have a residential and commercial element to it?
- Flat with a shop beneath.
- Surrounding land have working farm or business?
If so, you could be due a refund!
General incorrect calculations
- Often conveyancers will use the HMRC calculator however, this calculator does not cover all types of relief and has been known to be incorrect at times.
If you think you may have been over charged, get in touch!
Have you bought a property that included chattels in the purchase price?
- Free standing furniture.
- Kitchen white goods (not integrated).
- Paintings etc.
- Anything that can be removed from the property relatively easily.
If so, you may be due a refund!
Are you a non-UK resident that has purchased a UK based property?
If, so, you will have paid an increased surcharge.
- Have you been UK based for 183 days in the 12 months before and 12 months after the purchase?
If so, you may be due a refund!
Are you a property trader or investor purchasing through a probate sale?
If so, you may be due a refund!
If you have SIPP or SSAS in which you have placed commercial property, you may be due a refund.
If so, you may be due a refund!
Have you separated from your spouse or civil partner and purchased a new home?
If so, you may be due a refund!
