Spring Budget 2017 – Reduction of SDLT filing and payment window deferred

Currently SDLT returns and SDLT payments are required 30 days after the effective date of the transaction, usually completion. Depending on the details of the transactions, supplementary forms may also need to be completed with the return e.g. detailing underlying leases.

In August 2016, HMRC issued a consultation with the intention of reducing the payment and filing deadline from 30 days to 14 days during 2017-18.

Following the consultation, HMRC have announced that this shorter filing date and payment window will be delayed until after April 2018. The exact commencement date is still to be decided and will be communicated nearer the time. Further details will be published in a consultation response document later this month.

This will affect all those purchasing land interests in the UK (other than Scotland) who are subject to SDLT on their transactions. In practice, this change in the deadline is of most practical benefit to conveyancing lawyers who oversee the SDLT filing and payment process.