The CIOT and the Stamp Taxes Practitioners Group have provided comments and suggestions on the temporary processes for stamp taxes adopted during the coronavirus lockdown. In general terms SDLT processes have been largely unaffected by COVID-19 in contrast to other stamp taxes because of the SDLT online filing facility. In contrast however the SDLT paper-only processes have presented difficulties where it has been impractical to submit documents by post given the delays associated with HMRC office closures and staff working remotely. The bodies have suggested that a digital process with a dedicated and monitored SDLT email and electronic dropbox for the secure transmission of confidential information would ease the current difficulties reduce costs and processing delays and remove the risk of letters being lost in the post. A further suggestion is for ‘some sort of guaranteed deferral period with no accruing...
The CIOT and the Stamp Taxes Practitioners Group have provided comments
and suggestions on the temporary processes for stamp taxes adopted during the
coronavirus lockdown. In general terms, SDLT processes have been largely
unaffected by COVID-19 in contrast to other stamp taxes, because of the SDLT
online filing facility. In contrast, however, the SDLT paper-only processes
have presented difficulties where it has been impractical to submit documents
by post given the delays associated with HMRC office closures and staff working
remotely. The bodies have suggested that a digital process, with a dedicated
and monitored SDLT email and electronic dropbox for the secure transmission of
confidential information, would ease the current difficulties, reduce costs and
processing delays and remove the risk of letters being lost in the post. A
further suggestion is for ‘some sort of guaranteed deferral period with no
accruing interest’ (similar to the VAT deferral scheme) to help businesses
which are signing up to longer rental terms on premises, and particularly those
with multiple sites.
The CIOT and the Stamp Taxes Practitioners Group have provided comments and suggestions on the temporary processes for stamp taxes adopted during the coronavirus lockdown. In general terms SDLT processes have been largely unaffected by COVID-19 in contrast to other stamp taxes because of the SDLT online filing facility. In contrast however the SDLT paper-only processes have presented difficulties where it has been impractical to submit documents by post given the delays associated with HMRC office closures and staff working remotely. The bodies have suggested that a digital process with a dedicated and monitored SDLT email and electronic dropbox for the secure transmission of confidential information would ease the current difficulties reduce costs and processing delays and remove the risk of letters being lost in the post. A further suggestion is for ‘some sort of guaranteed deferral period with no accruing...
The CIOT and the Stamp Taxes Practitioners Group have provided comments
and suggestions on the temporary processes for stamp taxes adopted during the
coronavirus lockdown. In general terms, SDLT processes have been largely
unaffected by COVID-19 in contrast to other stamp taxes, because of the SDLT
online filing facility. In contrast, however, the SDLT paper-only processes
have presented difficulties where it has been impractical to submit documents
by post given the delays associated with HMRC office closures and staff working
remotely. The bodies have suggested that a digital process, with a dedicated
and monitored SDLT email and electronic dropbox for the secure transmission of
confidential information, would ease the current difficulties, reduce costs and
processing delays and remove the risk of letters being lost in the post. A
further suggestion is for ‘some sort of guaranteed deferral period with no
accruing interest’ (similar to the VAT deferral scheme) to help businesses
which are signing up to longer rental terms on premises, and particularly those
with multiple sites.
