In the last couple of years, due to the pandemic and the change in the financial and business landscape, there has been an increase in the number of people checking if they’re due tax refunds.
With an estimated 1-in-6 people overpaying tax to HMRC in one way or another, you may well find that you’re one of the millions of Brits who are owed some tax back from the government.
Whether this is due to Stamp Duty Land Tax (SDLT) on a house or land purchase, related to a change in jobs or some complications during a period of furlough, or something else, the only way to be sure if you’re owed a tax refund is to consult a tax specialist.
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How David Hannah and Cornerstone Tax Advisors can help
Cornerstone Tax Advisors are one of the UK’s fastest-growing and leading tax advisory firms. David Hannah is one of the Principal Consultants working at Cornerstone and is an ACA and CTA, qualified accountant.
David is a leading voice on SDLT in the UK and has more than three decades of experience working in property tax and dealing with SDLT. He specialises in the most complex areas of property tax and has helped countless clients discover and claim tax refunds.
Regularly quoted in the media and SDLT related publications, few tax advisors understand the fast-changing laws and regulations surrounding SDLT as well as David does.
If you have any suspicions you’ve overpaid tax at some point, or if you just want peace of mind that you’re not entitled to a refund you should arrange a consultation with David Hannah
Are you entitled to a stamp duty refund?
SDLT is a complex area of tax and has been subject to more alterations in the last 10 years than any other comparable tax.
This has only been further complicated by the stamp duty holiday that was introduced in 2020 by the government as a reaction to the pandemic hitting the property market.
The legislation governing SDLT is full of exceptions, exemptions, and reliefs. It’s not always as simple as looking at the flat tiered brackets, as is often the case of how SDLT is calculated by inexperienced solicitors.
There are a number of exemptions that are not always obvious to property solicitors and conveyancers. You should always have your paperwork and transactions double-checked by an experienced tax advisor specialising in property tax.
Why Cornerstone?
David Hannah is part of the team at Cornerstone Tax Advisors. The company has been operating since 2006, and since then has grown to be one of the most trusted property tax authorities in the UK.
Cornerstone has four specialist arms to its business:
Business tax advice – Cornerstone has tax advisors that specialise in business tax. Business tax laws are complex, and most businesses do not realise that they can operate more efficiently by paying attention to taxation.
Cornerstone provides bespoke solutions to corporations of any size, helping them find ways to operate more tax efficiently and make marked improvements to their bottom line.
Bespoke SDLT solutions – Whether it’s SDLT or some other form of tax, Cornerstone knows that no two personal circumstances are the same. They look at every case individually and find a bespoke solution that benefits you.
With access to the most cutting-edge solutions and the expertise to tackle any tax-related problems, Cornerstone can reassure you that when it comes to inheritance tax, capital gains, SDLT, or any other type of tax, they’ll ensure you’ve only been paying the amount you should have.
Wealth management – The advisors at Cornerstone can also help you plan for the long-term future of you and your family by helping you establish a robust, tax-efficient wealth management plan.
From QNUPS to trusts and family investment companies, you shouldn’t pay more tax than you have to. Trusts come with some unique challenges, Cornerstone’s tax advisors have the experience and expertise to help you navigate the most tax-efficient path.
SDLT refunds – As covered above, Cornerstone and David Hannah in particular help countless people claim refunds on overpaid SDLT every year.
If you bought property or land in the last four years, you may have overpaid your Stamp Duty Land Tax and be entitled to a refund from HMRC. To be sure about your situation, contact David Hannah and have him look at your individual circumstances and calculate the SDLT due on your purchase.
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