HMRC eyes stamp duty crackdown as buyers exploit loopholes

The Government will look to close loopholes that mean some homeowners have been paying less stamp duty than they should. One of the loopholes sees buyers claim that part of the property or land is used for business, not for residential reasons, while another sees the property bought through an offshore company. The loopholes have led to so-called ‘claims farmers’ contacting property owners and claiming they can get stamp duty refunds from HMRC. While some owners have secured refunds, others have been sued by the tax office for making unjustified claims.

 

Daily Mirror

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