Being introduced later this year are new rules requiring your solicitor, or property conveyance person, to file new forms with the Stamp Duty Land Tax Office when you buy a property. The regulations allow old forms to be used, or the new forms, from 1 April 2011 to 3 July 2011. After 4 July 2011 only new forms can be used
Why would new forms be needed?
The new forms require that each lead purchaser provide the following unique tax identifier when completing the forms:
- Individuals – their National Insurance number, or
- Companies and Partnerships – their Unique Tax Reference (UTR) or VAT registration number.
We wonder what HMRC will do with this extra information? No doubt they already have, or will be, setting up a computer system that links a property purchase to the purchaser’s tax file.
