In a high-stakes property deal on the brink of collapse, complicated by the involvement of an Official Receiver and the
RSL LAW DID IT AGAIN Purchase Funds – Gift From Overseas We recently acted for a UK-resident client in the
RSL LAW DID IT AGAIN! RSL LAW legal team recently helped a client successfully extend the lease on their property,
At RSL LAW, we recently assisted a client with the completion of their SDLT return for a newly built property located in a mixed-use development. The property, part residential and part commercial, required detailed investigation to determine the correct SDLT rate, ensuring our client maximised tax efficiency and avoided unnecessary costs.
Thanks to RSL LAW’s expertise, we were able to confirm the mixed-use SDLT rate, significantly reducing the tax payable on our client’s property purchase. By thoroughly reviewing the details of the transaction and applying the relevant reliefs, we saved our client a substantial amount in SDLT. This proactive approach ensured that the process was not only compliant but also financially advantageous, providing the client with peace of mind and confidence in their investment.
As of April 1, 2025, significant changes to the Stamp Duty Land Tax (SDLT) in the UK will take effect, impacting homebuyers across the country. These adjustments mark the end of temporary measures introduced in September 2022 aimed at stimulating the housing market.
General Threshold Reduction:
First-Time Buyers: The SDLT relief for first-time buyers will be adjusted as follows:
These changes mean that individuals purchasing property from 1st of April, 2025, will face higher SDLT liabilities. For example, a first-time buyer acquiring a property valued at £500,000 would have previously paid £3,750 in SDLT. Under the new rates, the SDLT due would increase to £10,000.
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