New stamp duty penalties in operation
HMRC have published new guidance setting out the new stamp duty late-filing penalties and which apply to all documents submitted late for stamping on or after 1 October 2014:
Late-filing penalties are now calculated as follows:
Length of delay |
Penalty payable |
Documents late by up to 12 months |
10% of the duty, capped at £300 |
Documents late by 12 to 24 months |
20% of the duty |
Documents late by more than 24 months |
30% of the duty |
