Procedure: Completion following Substantial Performance of agreement for sale
When an agreement for the sale of a freehold interest, or the assignment of an existing lease, is substantially performed, a further return may be due on actual completion.
A further return will be required where there have been changes between substantial performance and actual completion resulting in a different amount of tax now due.
This further return should be a letter to Birmingham Stamp Office and should contain the following details:
- UTRN of original return (if applicable)
- Details of the new calculation
- If additional tax is due, an appropriate payment
- If a refund is due, claim for the amount overpaid
Interest is payable on tax remaining unpaid more than thirty days after completion. Any repayment of tax is made with interest from the date the original payment was received by HMRC