Tax specialist, Marc Selby has been featured in Telegraph Money in an article highlighting the fact that house buyers are routinely paying too much stamp duty because their solicitors fail to understand complex rules.
Having recently won a client a refund of around £70,000 after the original solicitor had not realised the purchase should have been eligible for a specific type of relief relating to purchases of land containing multiple properties, Marc said “the solicitor hadn’t addressed the point at all. This wasn’t a high street firm, it was a large firm that frankly should have known better.”
Refunds must be applied for within a year of the duty being paid with Marc warning that this time limit could create problems for solicitors. “If that time limit crops up and it’s too late to amend a return, the only recourse the client has is to claim from the solicitor,” he said.