Have your say in the latest SDLT consultation
Following other recent stamp duty changes and even calls for scrapping stamp duty (SDLT) altogether, the Government are now holding an open consultation surrounding changes to the filing and payment process.
The idea is to make filing and payment processes more efficient as well as minimise the compliance burden for HMRC and its customers.
In last year’s Autumn Statement, it was announced that this consultation will be carried out in 2016 and the time for filing and payment of SDLT will be reduced to 14 days between 2017 and 2018 – down from the current 30-day period.
Within the consultation document, the main issues that are currently most prevalent include:
- More than 40% of returns feature errors or queries, causing processing delays
- 30% of payments are made by cheque, with 40,000 unnecessary payment demands following checks being sent without correct UTRN or to the incorrect address
- SDLT 5 certificates being issued before payment received, which may risk non-payment
If you wish to respond to the consultation, please send your response by 7th October 2016 to:
Stamp Taxes Policy Team (SDLT Consultation), HM Revenue and Customs, Area 3C/20, 100 Parliament Street, SW1A 2BQ
Anne Berriman 03000 585901 or Jane Ewart 03000 585790 (from a text phone prefix these numbers with 18001)