Any Conveyancing Solicitors here

[R11ysf]

I've done a fair bit of internet searching and I think I've found a loophole in SDLT but I would like to know from someone who knows for sure.

As far as I can tell from here https://www.gov.uk/stamp-duty-land-tax-online-retu... it appears that if you pay your SDLT up to 12 months late the penalty is £200. So with a decent 6 figure sized stamp duty it is almost worth not paying it and putting the money to good use for 12 months and then paying up.

Have I missed something glaringly obvious?

[matty g]

Other than the Solicitor wanting to pay the SDLT on completion.

A few years ago I tried to pay my SDLT direct as your supposed to have 30 days to pay it. Which would have been great. We had to clear a credit card for the mortgage which would have eaten into our SDLT fund so wanted to pay the SDLT on the card a week or so later.

Our solicitor said he had to pay the SDLT so we would have to transfer it to him before completion

IANAL and have since changed lawyers

[glm1977]

I think - and could be wide of the mark - but most mortgage companies insist that the solictor pays the stamp on the day of completion.

The 12 months window is only really an option if you are a cash buyer.

[uknick]

The fine you quote is paid on top of any interest due on the late payment.

If you file late, i.e. more than 30 days after the transaction you pay interest on the late amount at the HMRC rate which is currently 5%. At least that is what it is for the late filing of self assessments, and I can't see late payment of SDLT attracting a lower rate.

So, unless you invest the amount at more than 5% after tax I think it best to pay on time.

[a4cabrio]

Our conveyancer has included the stamp duty in they're quote which is payable in full on completion

[assadahmed]

You can't register as a new owner of property with the Land Registry without submitting proof that the stamp duty has been paid.