Homeowners in four areas of Northampton are being urged to check if they are elligible a stamp duty rebate for up to £1,500.
The rules affect up to 300,000 homeowners who bought a property in a ‘disadvantaged’ area over the past decade and could reclaim up to £1,500 in stamp duty.
The potential windfall has been uncovered by MoneySavingExpert.com but the deadline is May 5 and the consumer website is urging people to check if they are due a rebate.
The so-called ‘disadvantaged’ areas that fall within Northampton, as designated by the Government, are: Dallington, Kings Heath, St Crispin and Castle. The Kingswood and Hazelwood areas of Corby are also on the HMRC list.
In basic terms, people who paid £150,000 or less for their home between December 1 2003 and April 5 2013 in these areas are probably eligible.
One of the ways to find if you are elligible is using HMRC’s postcode search.
Those eligible to claim would have paid one per cent on of the buying price of their home in stamp duty. For example, if they paid £150,000 they are owed £1,500.
Although stamp duty is no longer paid on houses and flats costing £125,000 or less, the threshold has been much lower in the last 10 years.
Even landlords can claim.
MoneySavingExpert.com said the overpayment was usually due to a lack of awareness of the tax-break.
The website’s managing editor, Guy Anker, said: “This is a massive amount of money so don’t let it go to waste if you even think you may be eligible. Urgently check now, and claim what’s rightfully yours.”
All claims must be made on or before May 5, 2014. In order to make a claim you will need to write to HMRC at:
HM Revenue & Customs,
Birmingham Stamp Office
9th floor City Centre House
30 Union Street
You will need to enclose a copy of your original Stamp Duty Land Tax return or if you don’t have that, the ‘unique transaction reference number’ (UTRN) from the return. Your conveyancer should have submitted this return within 30 days of the date on which you completed the purchase.
You’ll also need to explain why you think you’ve paid too much, say which parts of the return were wrong and tell HMRC how much stamp duty you paid. For more details, see HMRC’s info on Claiming Refunds.