A specialist in-house team covering the complexities surrounding Stamp Duty Land Tax (SDLT) has been created by regional accountancy firm Old Mill.
The function was previously outsourced to a third-party by the firm, which has offices in Melksham, Wells, Yeovil and Exeter.
But it has decided to set up its own team following an increase in the number of queries around mixed-use acquisitions, Multiple Dwellings Relief (MDR) – where the total SDLT payable can be significantly lower – and partnerships, which can be a really complex area of legislation.
The team will be able to advise clients on available reliefs and calculate SDLT liabilities.
It is headed by senior tax manager Laura Wylie and supported by tax specialists Mark Trevethan and Zoe Chandler.
Laura, pictured, said: “SDLT is an area of tax that I have found particularly interesting for some time now as it is so far reaching so it made sense to bring this in-house so that we can advise clients on available reliefs and calculate SDLT liabilities.
“We will look to work closely with solicitors, who will ultimately prepare the SDLT return.
“We are seeing several of these queries coming up each month, so I am really pleased that we are now able to retain that business in house, as it ties in nicely with our existing offering.”
Old Mill employs nearly 300 staff who work with its 5,000-plus clients. The firm can trace its roots back to the 1920s.
