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HomeBusinessReal EstateRenters could pay significant penalties due to a little-known law, says agency

Renters could pay significant penalties due to a little-known law, says agency

Personal tenants may just in finding themselves paying important consequences because of a little-known legislation that can require them to pay Stamp Responsibility Land Tax (SDLT) regardless of now not in reality proudly owning their apartment assets, in line with Benham and Reeves.Whilst renters would possibly consider stamp accountability is just a worry for the ones buying a house, the London-based company says that, since 2003, residential tenancies have had the prospective to be chargeable for SDLT, however simplest when the cumulative hire exceeds £125,000.

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