Lexis®Library update: From 1 April 2021, individual buyers are able to claim a refund of the 2% surcharge if, after the purchase, they have spent 183 days in the UK in any continuous 365-day period:
- starting no more than 364 days before the effective date of transaction
- ending no more than 365 days after the effective date of the transaction.
The refund is claimed by making an application requesting HMRC to amend the SDLT return to take account of the fact that the transaction is ultimately not liable to the surcharge. The claim for repayment must be made within two years of the effective date of the transaction.
The guidance also details the information that will be required to make the application, eg the effective date, purchase price and Unique Transaction Reference Number.
Sources:
- Apply for a repayment of the non-UK Resident Stamp Duty Land Tax
- Rates of Stamp Duty Land Tax for non-UK residents
This content was first published by LNB News / Lexis®Library, a LexisNexis® company, on 06/04/2021 and is published with permission. Further information can be found at: www.lexisnexis.co.uk.
