Are you entitled to a stamp duty rebate

Primas Law is urging landlords and property developers to seek legal advice about potential stamp duty rebates on ‘uninhabitable’ second properties after a landmark tribunal case. A recent ground-breaking case, between P N Bewley Ltd and HMRC, held that properties that are not immediately habitable at the time of completion do not constitute as a “dwelling” for the purpose of the Finance Act 2003.

This finding could have major implications for the UK housing market, according to Primas Law, as the decision meant that P N Bewley was not liable to pay the additional 3% stamp duty surcharge applicable to second homes. It could mean that those who have paid stamp duty on similar uninhabitable properties – including potentially thousands of landlords and developers – may have paid an inappropriate level of tax and could seek to reclaim them.
Consequently, Primas Law is being instructed to act for a large and growing number of landlords and developers seeking to recover stamp duty paid for properties that, potentially, should not have attracted the additional tax.

Daniel Thomas, Head of Litigation at Primas Law, said: “To provide more context to this particular case, the property that P N Bewley purchased was a bungalow and a plot of land in Western-super-Mare.

“The company’s intention was to demolish the bungalow and build a new dwelling on the land with planning permission already being granted. The bungalow was essentially a derelict building that had been unoccupied for around three years.

“The tribunal was provided with photographs of the derelict building and these demonstrated the heating system, radiators, floorboards and pipework had been removed, and that the property – both internally and externally – was in a very poor condition.

“It was also provided with reports from surveyors that concluded asbestos was present in the property and urgently needed removing.”

COMMENT

If you are a developer and are buying property unfit for habitation, then this law could definitely apply, but you may need to use a solicitor who is up to date with property law, as most who simply deal with run of the mill conveyancing may not be aware of this law, or not familiar with the process of appeal, meaning that you could potentially pay out many thousands that you need not pay.

Leave a Reply

avatar
  Subscribe  
Notify of

   RANDOM ARTICLES

Missed chances to stop serial killer scrutinised in Cyprus
NICOSIA, Cyprus (AP) — It’s more than the grizzly body count that’s numbed people on the small east Mediterranean island Read more.
Successful boudoir photography
LocationHotels are great locations to shoot boudoir, but look for somewhere that gives you more creative options than just whitewashed Read more.
A boat trip along the Thames
On Friday the 29th July, I boarded a River boat at Westminster after buying a one way ticket to Hampton Court Read more.
Acid Attacks – A worldwide problem
  Acid attacks happen across the world and it affects women disproportionally. Although it is also unacceptable when acid violence Read more.
Further funding for Madeleine McCann
NO REQUEST MADE Madeleine McCann probe blow as Home Office DENIES police have requested more cash to hunt for missing Read more.
Venice
  Venice, the capital of northern Italy’s Veneto region, is built on more than 100 small islands in a lagoon Read more.
Mitsero Murders – The timeline so far
  April 14: A naked and bound female body was found in a Mitsero mine shaft by two foreigners taking Read more.
My move to Mirrorless
 A quick chat about my move to Sony. I have always been a Nikon fan, but the temptation of Read more.

Follow Me