Stamp Duty Land Tax
10-Oct-2005 | Real Estate
An error in the original legislation has meant that HMR&C did not have the necessary statutory powers to claim interest on late payments of SDLT or penalties.
The error has now been corrected and interest became properly chargeable from 26 September 2005. Anyone who has paid interest in relation to a late payment of SDLT will receive a refund from HMR&C plus interest at 2.5%. HMR&C is making arrangements to contact those entitled to a refund by 31 January 2006. Interest paid out by HMR&C on over-payments does not need to be repaid.
