Procedure: deferring payment in case of contingent or uncertain consideration FA03/S90: how the application is to be made
The provisions for the application are set out in paragraphs 10 to 28 of the Stamp Duty Land Tax (Administration) Regulations 2003 (2003/2837).
The application must be made, in writing, by the filing date of the land transaction return as defined within FA03/S119. See SDLTM07600. Applications cannot be accepted after this time.
The application should be sent to Birmingham Stamp Office the address is available from:-
Please mark all correspondence with SDLT Deferment Applications.
The application must set out
- the identity of the purchaser
- the location of the land involved
- the nature of the contingency/uncertain payment
- the amount of consideration for which deferment is sought
- as full details of the times of expected payments as possible to give
- a reasoned opinion as to when this part of the consideration will cease to be contingent or can be ascertained
- a calculation of the stamp duty land tax payable on the total of the actual and the contingent/uncertain consideration
- a calculation of the stamp duty land tax in respect of which the application to defer payment refers
HM Revenue & Customs may ask for further information in order to determine if an application may be accepted.
HM Revenue & Customs must say when they require the information and must allow the purchaser at least 30 days.
If the information is not provided in the time allowed, HM Revenue & Customs may refuse the application.
Once the application for deferral is made, the payment of SDLT claimed as deferred is suspended until a decision on the claim has been made by HM Revenue & Customs.