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Pensions Stamp Duty Error?

Stamp Duty Land Tax, covered

Since 2006, Cornerstone have specialised in providing Stamp Duty advice to a wide variety of clients, from private homeowners to commercial developers, as well as solicitors dealing with land transactions.

The introduction of the ‘3% Surcharge’ on second properties in 2016 and the confusion generated which persists to this day, starkly highlighted the scope for error in Stamp Duty payments. In light of this, we have moved to develop multiple service areas and tools to help avoid costly mistakes on current and future purchases, as well as assisting in correction of historically incorrect transactions.

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About

Cornerstone’s mission statement has never wavered, we established ourselves as the UK’s leading bespoke tax advisory service in 2006. Our client specialism areas include:

Homeowners

We advise private homeowners both on current transactions to ensure the correct SDLT is paid and historical purchases where we help to recover overpaid Stamp Duty.

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Investors

Buying your first BTL for a little extra income or as a retirement strategy or an established landlord with an extensive portfolio – we can help ensure your investment is making the right returns for you.

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Developers

Buying land with planning permission for property or acquiring blocks of flats for modernisation are just two instances where mistakes on your SDLT return can prove costly – Cornerstone can help you avoid the pitfalls and maximise your profits.

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Property Professionals

We can assist you in eliminating errors in SDLT calculations, and help examine your clients’ issues to proactively identify and remedy errors before they become an issue, or help correct them after the deal has gone through.

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Overpaid Stamp Duty Land Tax?

Contact our specialist SDLT Refunds division.

How can we help you?

Homeowners

Thinking of buying a second home? Bought a property with an annexe for elderly relatives? House has land which extends beyond just the gardens or even has commercial use or outbuildings? These are just some of the scenarios in which homeowners often inadvertently find themselves with a bigger Stamp Duty bill than they should. We can help ensure you don’t get caught out by these mistakes, leaving you with more money in your pocket.

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Investors

Whether you’re a first time landlord looking to supplement your income or an experienced professional with an extensive portfolio, when you make property your business, you need to ensure that it’s paying the right bills – yours. With the continuing confusion over the 3% surcharge, the complexity of the legislation and the new non-resident surcharge adding to the issues, it’s worth speaking to us to ensure you’re paying the right Stamp Duty and that your business isn’t inadvertently paying more than its share.

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Developers

Maybe you’re buying a plot of land with permission to build flats, office buildings or both. Or you’re converting an existing building for new use, or a vacant commercial lot to renovate into a new set of shops. Whatever the project, Stamp Duty probably isn’t at the top of your priority list. Speak to us and that doesn’t have to change – we’ll sweat the details on SDLT while you get to concentrate on the stuff you need to, while making significant savings (anywhere up to the millions of pounds) thanks to our advice.

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Property Professional

All professionals involved in property from solicitors, to Finance to Agents can benefit from our sympathetic and specialised advice and assistance, tailored to their needs by team which includes tax advisers and retired solicitors. We can also help in auditing previous case files to ensure any errors are proactively found and dealt with. Financial advisers and estate agents can benefit from referring their clients to our advice, ensuring they approach purchases fully and accurately informed as to their liabilities. All will see a significant increase in client satisfaction and a corresponding boost to their reputations in a competitive marketplace where word of mouth is everything.

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Investing in property for your retirement?

Contact our specialist team of chartered tax advisers.

In the news

SDLT overpayments are making the headlines, as thousands of homeowners are left reeling incorrect SDLT calculations.

HMRC loses SDLT case and is ordered to pay back...

Marcus & Marcus bought a property in 2015 which included a house, annexe, a summerhouse, and many other amenities. After paying a stamp duty worth £33,750 the company were subjected to an HMRC enquiry which found the rate of SDLT...

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A guide to stamp duty land tax on non-residential property

Buying residential property can be a minefield when it comes to your Stamp Duty bill, with a variety of factors which may impact the final figure and most people being unaware of many of them. But what about if the...

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Overpaid stamp duty? Dentists could be owed £50,000

It’s long been the case that part of the long-term retirement planning of many dental practitioners is to sell, or contribute, the practice premises to their pension schemes. The inherent advantages of a pension – namely tax-free roll up of...

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What buy-to-let landlords must consider - Daily Express feature

We are proud to share our latest feature in The Daily Express on what landlords must consider in 2022. Cornerstone Tax is the UK's leading property tax advisers, specialising in Stamp Duty Land Tax.

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Britain faces 'longest recession in history' as Bank of England...

The Bank of England hiked interest rates to 3% from 2.25% on Thursday as it tries to control runaway inflation which is battering British households. The 0.75% rise is the single biggest increase since 1989 and could see mortgage holders...

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Rent prices have risen, again - and this is particularly...

Many of us have been left feeling powerless as rent and bills continue to rise and unfortunately, there's not much that can be done, according to David Hannah. But there are ways to make the price hikes more manageable, he...

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