Stamp Duty Refund

happy_UNO

Does anyone have any experience with how long a stamp duty refund takes? I have submitted through my solicitor who has advised it could take several weeks. I would like to verify this. When I research online it states it should take 15 days. Can anyone confirm this?

user1977

There are no fixed timescales. It takes however long the current backlog at HMRC is (assuming you mean SDLT). Several weeks sounds right (and 15 days is “several weeks”!).

AskAsk

We did ours 6 years ago and it only took a couple of weeks.  You can do it yourself on HMRC portal.  Our solicitor gave us the link and told us to do it ourselves.

It would be faster if you did it yourself as solicitors will sit on it before they do anything.  Not to mention their fees!  I didn't even know a solicitor can do it for you, as our solicitor said they don't do that part.

You get generous interest from date of stamp duty paid to refund date, so you don't lose out for it being slow getting paid back to you.

happy_UNO

AskAsk said:

We did ours 6 years ago and it only took a couple of weeks.  You can do it yourself on HMRC portal.  Our solicitor gave us the link and told us to do it ourselves.

It would be faster if you did it yourself as solicitors will sit on it before they do anything.  Not to mention their fees!  I didn't even know a solicitor can do it for you, as our solicitor said they don't do that part.

You get generous interest from date of stamp duty paid to refund date, so you don't lose out for it being slow getting paid back to you.

Do you know what rate they base the interest on?

propertyrental

Mine took 10 days last year from date the solicitor submitted to HMRC.

In retrospect, I wish I'd done it myself - it's a very simple form and the solicitor had to post it to me to sign/return which added time.

AskAsk

happy_UNO said:

AskAsk said:

We did ours 6 years ago and it only took a couple of weeks.  You can do it yourself on HMRC portal.  Our solicitor gave us the link and told us to do it ourselves.

It would be faster if you did it yourself as solicitors will sit on it before they do anything.  Not to mention their fees!  I didn't even know a solicitor can do it for you, as our solicitor said they don't do that part.

You get generous interest from date of stamp duty paid to refund date, so you don't lose out for it being slow getting paid back to you.

Do you know what rate they base the interest on?

It is their HMRC rate.  I can't remember but we were surprised to get the interest and it was a lot more than savings rate.  So we were very pleased.

AskAsk

propertyrental said:

Mine took 10 days last year from date the solicitor submitted to HMRC.

In retrospect, I wish I'd done it myself - it's a very simple form and the solicitor had to post it to me to sign/return which added time.

it can all be done online.  there is no need to send anything off.  we did it all online and it was very simple.