Taxman mulls changes to SDLT filing and payment process
HMRC has launched a consultation on proposals to make changes to stamp duty land tax filing and payments processes
HMRC has launched a consultation on proposals to make changes to stamp duty land tax filing and payments processes.
The government announced at Autumn Statement 2015 that it intended to reduce the SDLT filing and payment window from 30 days to 14 days after the effective date of the transaction.
The change to reduce the filing and payment window will be implemented during the 2017-18 tax year.
Other proposals to modernise the SDLT filing and payments profess include mandatory online filings for agents, mandatory electronic payments for agents and extending the HMRC filing service to individuals who do not wish to use an agent.
As the proposals would require digital system changes as well as legislation, implementation during 2017-18 may not be possible.