The Conveyancing Association (CA) has welcomed new HMRC guidance on Stamp Duty Land Tax (SDLT) registration requirements, but warned that increasing complexity within the tax regime is creating growing challenges for conveyancing firms.
The guidance confirms that conveyancers must register as tax advisers in order to obtain the credentials needed to submit SDLT returns and make payments on behalf of clients. However, the CA has stressed that registration should not be viewed as evidence that conveyancers are qualified, regulated or insured to provide tax advice.
The Association noted that firms are facing increasing difficulties when assessing SDLT liabilities, reliefs and exemptions, with more than 30 separate reliefs and exemptions now available alongside a growing range of ownership structures and transaction types that can affect tax treatment.
Issues involving trusts, company ownership, multiple purchasers, mixed-use property, first-time buyer relief and higher-rate charges can all have a significant impact on SDLT liabilities, often requiring specialist expertise to determine the correct position.
As a result, the Association said many firms are reviewing how they manage SDLT-related work, including whether to develop in-house expertise or seek specialist support for more complex cases.