New homeowners are being warned about cold calls from rogue tax repayment agents
advising them to make speculative Stamp Duty Land Tax (SDLT) refund claims,
which could leave them with large tax bills.
The warning comes after a recent spate of Stamp Duty refund claims to HMRC failed
to meet specific criteria.
The agents have been known to call new property owners after finding them through
Land Registry records and property search websites, promising money back on
'unknowingly overpaid' SDLT.
Recent analysis undertaken by HMRC suggests that up to a third of claims for
'multiple dwelling relief' refunds were incorrect.
HMRC raises enquiries on these claims, but sometimes that is after the agent has
taken their fee, leaving the homeowner to pick up the difference. Incorrect
refund claims must be repaid with interest, with some potentially facing
penalties as well.
Nicole Newbury, HMRC Director for Wealthy and Mid-sized Business, said:
'We are seeing obviously spurious refund claims that are never going to
succeed; but will lead to an unnecessary bill for the customer.
'So, we are warning new homeowners not to get caught out by tax repayment
agents promising easy money on a 'no win, no fee' basis. If it sounds too
good to be true, it probably is. We want to help people get it right and
avoid unnecessary tax bills, so treat promises of easy money with real
caution.'
Internet link: HMRC press release