🚨 **Warning for Homebuyers: Avoid Costly Scam!** 🚨
Attention homebuyers! HMRC has issued a crucial alert regarding fraudulent agents promising Stamp Duty Land Tax (SDLT) refunds. These deceptive schemes could lead to hefty unexpected bills. Over the past year, nearly £201 million in false SDLT claims have been flagged, with 3,000 investigations launched. Many homeowners are being misled into thinking they’ve overpaid their taxes, only to face demands to repay the full amount, plus interest and penalties, later. 🔍
Here’s how the scam works: Unscrupulous agents reach out via post, email, or social media, offering to file SDLT refund claims for a huge commission. They often inaccurately state that properties qualify for commercial tax rates due to “major refurbishments.” In reality, many of these homes remain classified as residential, making the refunds invalid. 🏠
For instance, a family buying a £1.1 million London property were urged to claim a £9,250 refund. After HMRC’s investigation, their claim was denied, and they had to repay the sum plus charges, despite already losing 30% in commission to the agents.
🚫 **Don’t be caught out!** HMRC advises avoiding these repayment agents, as they operate with minimal regulation and often disappear when enforcement looms. Always verify directly with HMRC if you believe you’ve overpaid SDLT. 🛑
**Key Points to Remember**:
– First-time buyers are exempt from SDLT up to £300k but beware of fraudulent claims.
– Other buyers pay from £125k, with a 3% surcharge on second homes.
– Rogue agents push risky “no win, no fee” contracts. Be sure not to sign anything you don’t fully understand.
Stay informed and protect yourself from these scams! Always reach out to HMRC directly for accurate and trustworthy advice. 📞🔒
Share this to spread the word! 🗣️ #HomeBuyingTips #TaxScamAlert #StaySafe