Have we overpaid our stamp responsibility as a result of home has an annexe? | Cash

Q I’ve obtained three letters from an organization claiming to be specialists in reclaiming stamp responsibility advising us that we might have overpaid £6,208 in stamp responsibility once we purchased our home as a result of it has an annexe. They’ve supplied to make a declare on our behalf on a no-win, no-fee foundation (I’m unsure what the payment can be however assume it might be a proportion of the profitable declare).

We bought our home in September 2018 and it does certainly have a separate annexe, which has two models with a bed room and a rest room every (one additionally has a lounge) – the earlier homeowners used this as lodging for his or her sons after which extra not too long ago as a B&B.

I simply questioned if this stamp responsibility declare was price pursuing and what the potential pitfalls could be – I’m very a lot of the view: “If it appears to be good to be true it most likely is.” Nonetheless, having seemed on the opinions on the corporate web site and trustpilot.com, I do surprise if there could be one thing on this.

My primary concern is that if we efficiently make a declare however it’s later discovered to be incorrect then we might must repay the stamp responsibility – together with the fee for the claims firm plus doubtlessly further late fee costs.
JM

A It’s true that you’ll have paid an excessive amount of stamp responsibility land tax (SDLT) as a result of your own home has an annexe. When the foundations for increased charges of SDLT for extra properties had been first launched, properties with a self-contained annexe or so-called granny flat had been handled as two “dwellings” and so had been accountable for the upper charges. Nonetheless, the foundations had been up to date in 2018 so {that a} property with a self-contained annexe is handled as a single dwelling, supplied the primary a part of the home is price a minimum of two-thirds of the worth of the entire property and the annexe is inside the primary property or within the grounds of the primary property. So if these situations apply to your property, it may very well be that whoever dealt along with your conveyancing was unaware of the change within the guidelines and paid the upper price of SDLT in your behalf. So you’ll want to return to your conveyancer and examine what price of SDLT you paid on the acquisition. If it seems that you simply did pay the upper price of SDLT, I recommend that you simply get the conveyancer to resubmit your SDLT return with the right amount of SDLT. Alternatively, you possibly can declare a refund your self utilizing the HM Income & Customs on-line SDLT steerage on amending a return. You do not want to pay a bit of any refund to an SDLT reclaim firm.

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