HMRC publishes Stamp Taxes newsletter

HMRC published its latest Stamp Taxes newsletter covering stamp duty land tax (SDLT), stamp duty and stamp duty reserve tax (SDRT) on 16 January 2020.

The newsletter highlights various items including:

  • new guidance in HMRC’s manuals on the definition of a dwelling and the number of dwellings acquired;
  • changes to existing guidance covering the replacement residence condition for the higher rate of SDLT for additional dwellings;
  • SDLT repayments being made electronically;
  • the incorrect submission of SDLT returns for welsh property that should be sent to the Welsh Revenue Authority (in respect of Land Transaction Tax);
  • sending copies of SDLT returns to the Land Registry where the SDLT return covers more than one property;
  • guidance for leases for indefinite terms and leases that continue after a fixed term;
  • responsibility for notifying and paying SDRT;
  • new guidance on hybrid capital instruments;
  • new guidance on cryptoassets; and
  • the calculation of stamp duty penalties.