This now allows for the electronic filing of Land Transaction Returns and electronic payment of the associated Stamp Duty Land Tax (SDLT).
Mark Riddick, CEO, explains: "Searchflow welcomes the latest Government moves to further streamline the property transaction process. Currently, the Inland Revenue is only able to received Land Transaction Returns in paper format, either hand written or as a printout from a PC, which is an extremely cumbersome process. However, the technology is now in place to offer a fully electronic channel from 6 April 2005, which is yet another positive step in e-enabling
the property purchasing process."
Mark concludes: "The Land Registry and the Register of Scotland have plans to introduce systems for e-registration, e-lodgement and e-conveyancing within the next few years. Now, with the electronic filing of Land Transaction Returns, this is a major step towards integrating the
information requirements of Stamp Duty Land Tax, with those of the Land Registries and Valuation Office Agencies. This therefore creates huge opportunities for joined-up and streamlined processes across the respective organisations."
