Have you overpaid Stamp Duty Land Tax? Some buyers could get refund - do you ...

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STAMP DUTY LAND TAX (SDLT) must be paid if a person buys a property or land over a certain price in England and Northern Ireland, however some people may be able to pay less or no tax at all. Who is eligible for SDLT relief, and is it possible to get a refund?

PUBLISHED: PUBLISHED: 04:01, Fri, Nov 8, 2019

From the deposit for a mortgage to moving costs, buying a new house can be expensive. On top of that, buyers will need to pay Stamp Duty Land Tax (SDLT) if their property or land is over a certain price in England and Northern Ireland - unless they qualify for relief and don’t need to pay the tax.

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Currently, the SDLT threshold for residential properties is £125,000.

When purchasing non-residential land and properties, the SDLT threshold is £150,000.

How much a person pays in SDLT depends on a number of factors.

If the land or property is residential, a person may be able to reduce the amount of tax they pay by claiming relief.

READ MORE: How Stamp Duty is calculated: How to work out how much you will pay on your new home

Stamp Duty Land Tax: Terraced house and calculator in picturesStamp Duty Land Tax: Some people may be able to claim first-time buyers relief (Image: GETTY)

First-time buyers can get SDLT relief for first-time buyers.

This means that if the buyer is purchasing their first home, they can get a discount meaning they could pay less or no tax.

This is provided they completed the purchase on or after November 22, 2017, the purchase price is £500,000 or less, and all of the buyers involved in the purchase are first-time buyers.

In this situation, buyers will pay no SDLT on the first £300,000 of the

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