High value residential property - SDLT 15%

High value residential property - SDLT 15%

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One of my clients is buying an expensive residential property, well in excess of £10,000,000 through a compay. On the face of it a SDLT of 15% is payable. However, this property will be let commercially and there will be a "Genuine Letting" operations carried out. Howeve, how can I convince HMR&C of this and avoid paying the increased rate of 15% rather the normal rate of 7% ?

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By Justin Bryant
25th Oct 2014 19:19

You just

Put code 35 in box 9 of the SDLT1. The solicitor should sort this out for you. You may be able to avoid the 7% rate with planning from an SDLT specialist.

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By andrew55
26th Oct 2014 10:51

Remember ATED

Also remember you will need to do an annual return for this under the ATED rules

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By Justin Bryant
27th Oct 2014 09:41

NB
The first ATED return is needed within 30 days of purchase. (The annual ATED return is also needed by the following 30th April.)

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