Four ways we can help you save on your Stamp Duty Land Tax

Four ways we can help you save on your Stamp Duty Land Tax

With Stamp Duty Land Tax (SDLT) the subject of yet another current consultation, the whys and wherefores of this most complex of UK taxes stand to be altered once again.

With up to one in ten buyers already paying the wrong amount of Stamp Duty, it can’t help but feel that the dice are being rolled once again and those looking to buy property are the ones who will lose out.

Thankfully, with Compass in your corner, you can make sure that you pay what you should, and no more.

We’d like to share with you four features which help you to save money on the most expensive transaction you’re ever likely to undertake:

1. An extensive Database – Using the Compass database, our partner firms like Farnworth Rose hold detailed information on every one of the (currently) 49 exemptions, exceptions and reliefs which exist in the SDLT legislation. This means that no matter how complex your purchase, or what particular reliefs might apply, you can be assured that we will find them.

2. A full team – programmers, tax advisers and legal experts work together to make sure that the Compass database is constantly brought up to date with all the latest amendments, meaning that a change to the legislation won’t catch you or your solicitor unawares, and that you’ll get the maximum benefit of the law as it stands when you buy.

3. A Comprehensive Audit Trail – Compass produces details of every transaction it assesses in the form of a full report, enabling your lawyer to provide the exact details of any reliefs claimed on your purchase when completing your SDLT return, ensuring things go smoothly.

4. A full referral system – should your case prove especially complex or marginal, ensuring a human judgement where even the machine isn’t quite sensitive enough, or even a new suggestion on how to structure your purchase, could help you make a bigger saving.

To read more about how Compass can help your firm, read recent our blog post!

As you can see, if you want to make sure your stamp duty is right first time, every time, and that you make every saving to which you’re entitled, Compass isn’t just the best option – it’s the only option!

Call or email us today!

📧 [email protected]

☎️ 0333 305 0956

Alternatively, visit our website and join the growing number of UK firms making use of our award-nominated services.

Access your 14 day free trial for the UK’s only fully comprehensive Stamp Duty Calculator

This article was submitted to be published by SDLT Compass as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

SDLT Compass

https://sdltcompass.co.uk/

SDLT Compass asks all the relevant questions before analysing deals to identify where reliefs or special rules may apply.

For standard transactions, Compass’s sophisticated algorithms provide an insured and indemnified Stamp Duty calculation of Stamp Duty Liability. For the more complex transactions, Compass ensures all the relevant information has been collected before referring the matter to our panel of experts, along with an overview of the potential issues identified to ensure that appropriate reliefs have not been missed and that the necessary conditions (including post completion conditions) have been complied with.

Compass is a one-stop application for all your SDLT needs, helping you to ensure that SDLT is calculated correctly for each of your clients first time, every time, and giving you the audit trail you need to prove it. Produce accurate SDLT numbers for your clients regardless of their circumstances or the type of property being purchased, avoiding the costs of:

  • Underestimated SDLT due to missed factors like additional properties, leading to loss of property and client dissatisfaction.
  • Overestimated SDLT leading to lengthy reclaim processes with HMRC and potential claims against your firm by the client.
  • Loss of professional reputation and higher PI insurance costs.

Compass allows your firm to avoid costly SDLT errors. It is a simple web-based interface and it is designed to produce a detailed audit trail to the specifications mandated in the latest CQS and Law Society tax guidance! Backed by 15+ years of experience, Compass analyses all 49 SDLT reliefs via 4 simple screens and provides 1 simple solution.

Key Services

Address

Milestone House,
18 Nursery Court,
Kibworth Business Park,
Kibworth,
Leicestershire,
LE8 0EX

Key Contact

Name: Chris Ward
Tel: 0333 305 0956
Email: [email protected]
LinkedIn Account: Chris Ward

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