This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Stamp Duty Exemption - LTR Penalty

Julia Barbs
Posts:1
Joined:Mon Jul 05, 2021 5:57 pm
Stamp Duty Exemption - LTR Penalty

Postby Julia Barbs » Mon Jul 05, 2021 6:02 pm

Hello,

I have purchased my first house this year with completion date 4th June 2021.

I have received today a letter for HMRC (LTR) saying that I am due a £100 penalty. I purchased and completed during the Stamp Duty Holiday, what is this penalty now?

Any help would be much appreciated

Thanks,
Julia

AGoodman
Posts:1310
Joined:Fri May 16, 2014 3:47 pm

Re: Stamp Duty Exemption - LTR Penalty

Postby AGoodman » Thu Jul 15, 2021 10:43 am

It should tell you but it's likely for the late submission of the SDLT return.

The need to file a return by the deadline (14 days from completion) still exists even where no tax is payable.

You should speak to whoever filed it for you.

maths
Posts:8301
Joined:Wed Aug 06, 2008 3:25 pm

Re: Stamp Duty Exemption - LTR Penalty

Postby maths » Mon Jul 19, 2021 9:18 pm

If HMRC don't receive the land transaction return within 14 days of the effective date (ie "completion date"), an automatic £100 penalty is charged. If the return is more than 3 months late penalty is £200. If the tax is paid late interest is chargeable.


Return to “Stamp Duty, Stamp Duty Land Tax, SDLT”