HMRC’s recent guidance on tax adviser registration has prompted a lot of discussion across the conveyancing sector. Some of it has been helpful. Some of it has created unnecessary concern.
When the guidance is looked at calmly, the position appears clear. Firms who communicate with HMRC for whatever reason, will need to register, even where parts of the process are outsourced. Rather than worrying about whether this applies, it would be more practical to acknowledge that it will apply, and address how firms can be best positioned to respond to it.
Compliance is becoming standard
Conveyancers are already used to working within increasing regulatory requirements. Anti-Money Laundering (AML) supervision, digital ID checks and enhanced audit trails are now part of everyday practice. Stamp Duty land Tax (SDLT) is simply following the same path. Formal registration reflects the financial and regulatory importance of the tax and reduces the noise that impacts efficiency within HMRC. This seems to be about accuracy, consistency and accountability.
A good time to review your SDLT process
This change provides a good opportunity for firms to take stock of how SDLT is handled internally. The following would be key items to consider during any review:
- Is information collected in a structured way?
- Are calculations properly checked?
- Is there a clear record for compliance purposes?
- Does the process support fee earners rather than slow them down?
With the right systems in place, SDLT does not need to be time consuming or high risk. Like ID and AML checks, it can be largely automated, with specialist oversight.
How SDLT Check supports firms
At SDLT Check, our role is to help firms manage this change in a practical way.
We provide:
- Structured client questionnaires and data capture.
- Independent SDLT calculation and review.
- Clear audit trails and reporting.
- Flexible submission options.
Working with firms via our fully managed service offering allows for SDLT returns to be submitted under the conveyancing firm’s agent code, or under that of SDLT Check, with both offering enhanced pre-population features through our platform. This flexibility will be particularly helpful where lender requirements or internal policies differ. All cases whereby SDLT Check confirms the calculation are supported by or own £5m professional indemnity insurance, giving firms added reassurance.
Preparing for the 18th May
HMRC opens registration from 18th May and firms have until 18th August to register so this is not a time for panic, but a time for preparation. If registration is becoming standard across the industry, it would be more prudent to embrace it, and prioritise making sure your SDLT process is compliant, efficient and well supported. Firms that take a measured, practical approach now will have little to be concerned about come May, having already reduced their risk and improved the overall experience for their clients.
This article was submitted by SDLT Check as part of an advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.
