Stamp Taxes

Overpayments of Stamp Duty Land Tax and Petroleum Revenue Tax

The error or mistake relief rules relating to stamp duty land tax and petroleum revenue tax will be amended with effect from 1 April 2011. The time limit for claiming repayments will be reduced from 6 years to 4 years. The requirement that the overpayment must be the result of a mistake in a return, and that it must be made under an assessment, will be removed. The current restrictions on the right of appeal will also be removed. These changes will bring the rules for these taxes into line with those already applying for income tax, capital gains tax and corporation tax.