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A mistake could land you in trouble

By: Language: English Series: Estates Gazette ; (1022) 15 May 2010, 100-101(2)Publication details: 2010Subject(s): Summary: Examines the new penalty regime for incorrect stamp duty land tax (SDLT) which came into force on 1 April 2010. Explains that the measures are an attempt to harmonise the penalties for inaccurate returns across the different taxes and that as the taxpayer's adviser takes a greater role in preparing and filing SDLT returns it seems likely that they could suffer any penalties imposed. Gives guidance on how best to prepare these returns to minimise any risk.

Examines the new penalty regime for incorrect stamp duty land tax (SDLT) which came into force on 1 April 2010. Explains that the measures are an attempt to harmonise the penalties for inaccurate returns across the different taxes and that as the taxpayer's adviser takes a greater role in preparing and filing SDLT returns it seems likely that they could suffer any penalties imposed. Gives guidance on how best to prepare these returns to minimise any risk.