Changes to Stamp Duty Land Tax (SDLT) Submission Deadline

The current deadline for submitting a Stamp Duty Land Tax (SDLT) return and paying the SDLT is 30 days from the effective date of the transaction. From 1 March 2019 this time limit is being reduced to 14 days for all transactions with an "effective date" on or after 1 March 2019. 

Normally the effective date is the date on which the lease or transfer is completed. However,  a contract or lease may be substantially performed before completion in circumstances where a buyer takes possession of the property or where a tenant makes the first rental payment due under a lease.

Failure to submit your return within the new 14 day deadline will result in an automatic fixed penalty of £100. This automatic penalty will increase to £200 if the SDLT return has not been submitted within three months from the effective date. Interest will continue to be payable in all instances of late filing.

The changes will only impact purchasers or tenants in Northern Ireland and England.

If you have any queries on this topic, please contact a member of our Commercial Property – Belfast team.

Date published: 12 February 2019