From1 March 2019, the payment window for SDLT and for completion of SDLT returns is being cut from 30 days to 14 days.
This is earlier than the start of the usual tax year from 1 April 2019.
The measure was supposed to come into effect from tax year 2017-18, but was met with strong opposition and so was delayed until 2019.
HMRC received over 85 written responses to the initial consultation in 2016. These were mainly concerned the practical difficulties of completing the SDLT return within a reduced time frame.
In response, HMRC have promised improvements to the SDLT return, in particular, reducing the amount of information required in the return, to help make compliance with the new time limit easier.
For more information, please contact Lesley Sutton on 01484 550037 or email email@example.com.