Stamp Duty Rebate For Family Offices

Family Offices that oversee multiple properties understand the complexities of managing stamp duty payments. Ensuring accurate assessments and paying the correct amount of stamp duty can be challenging, particularly when dealing with relief categories such as multiple dwelling relief, uninhabitable relief, and mixed-use relief.

We empower Family Offices by providing expert guidance and assistance in navigating these relief options, optimising stamp duty payments and determining whether you could be entitled to a stamp duty rebate.

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How Much Is UK Stamp Duty?

In the UK, Stamp Duty Land Tax (SDLT) is collected by HMRC on both residential and non-residential properties that are valued at a certain threshold. Non-residential properties can include commercial properties such as shops and offices, agricultural land and more. The amount of stamp duty you end up paying when purchasing a property will be entirely dependent on the type of property, its valuation, when you bought it, and whether you’re eligible for any exemptions. 

As an indication, the stamp duty rates for a single residential property purchase are as follows:

Property Value Percentage of Stamp Duty
Under £250,000 0%
Between £250,001 to £925,000 5%
Between £925,001 to £1.5 million 10%
Over £1.5 million 12%

Those purchasing a non-residential property are likely to pay more. Feel free to check out an online stamp duty calculator to work out the SDLT for your personal circumstance. 

What Is A Stamp Duty Rebate?

There are some situations where you may be able to claim your money back via a stamp duty rebate or refund. As there are so many factors to consider when paying stamp duty such as the type of property, the buyer, and their personal circumstances, there are often discrepancies as to how much stamp duty should be paid. This can lead to incorrect payments where property owners end up paying more than they should have. In this instance, it is up to the property owner to request a stamp duty rebate in order to reclaim their money.

What’s more, surcharges are sometimes added to your stamp duty amount which can also be reclaimed if paid unnecessarily. The two main types of stamp duty surcharges are when you:

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Can Family Offices Get A Stamp Duty Rebate?

Much like any property transaction in England and Northern Ireland if you pay more stamp duty than required, you could be eligible for a stamp duty rebate. For non-residential properties, you can apply for repayment if all purchases are individuals who have spent 183 days in the UK in any continuous 365-day period.

There are three main types of rebates you may be entitled to:

1. Multiple Dwelling Relief (MDR): Managing a portfolio of properties often involves multiple dwellings within the same development, a relief category that can significantly reduce stamp duty liabilities for Family Offices.

2. Uninhabitable Relief: Family Offices may encounter situations where certain properties in their portfolio are uninhabitable due to renovation or refurbishment works required at the time of purchase.

3. Mixed-Use Relief: Properties with mixed-use purposes, such as a combination of residential and commercial spaces, can qualify for mixed-use relief. However, accurately assessing and applying this relief can be complex.

 

How To Get A Stamp Duty Rebate?

If you believe you are entitled to a stamp duty refund, you should first calculate your correct SDLT amount and list any appropriate reliefs or exemptions that might apply. Property owners will typically seek the help of a solicitor or accountant to do this.

At Stamp Duty Rebate, you can submit a claim form where we will see if you are eligible for a stamp duty refund before contacting HMRC on your behalf. Our legal team are on hand to defend any possible challenges that may come your way as well. Then, you should receive a decision between 10-12 weeks after submitting your claim. Ultimately, we aim to take the stress and confusion out of stamp duty refunds, making it more accessible for property owners to reclaim their money.

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Recent claims

How much can I expect to get back should my claim be valid and approved?

Every case is different. In some cases, we were able to arrange a rebate of up to 60% of the original SDLT paid. Some of the cases that we’ve successfully claimed refunds for:

Steven B Primary Residence
Rebate Received £9,337.00
Purchase price £1,100,000.00
Stamp Duty Paid £53,750.00
Gary H Primary Residence
Rebate Received £26,795.00
Purchase price £1,485,000.00
Stamp Duty Paid £89,750.00
Matt S Buy to Let
Rebate Received £8,817.35
Purchase price £274,000.00
Stamp Duty Paid £11,920.00
Ben G Primary Residence
Rebate Received £17,397.00
Purchase price £1,260,000.00
Stamp Duty Paid £69,750.00
Zev S Buy to Let
Rebate Received £13,044.95
Purchase price £410,000.00
Stamp Duty Paid £22,800.00
Ashkey P Buy to Let
Rebate Received £2,502.33
Purchase price £82,500.00
Stamp Duty Paid £2,475.00
Sophia L Primary Residence
Rebate Received £42,478.00
Purchase price £1,680,000.00
Stamp Duty Paid £115,350.00
Jonathan P Buy to Let
Rebate Received £2,340.51
Purchase price £77,500.00
Stamp Duty Paid £2,325.00