Sdlt Submissions Show a Possible Recovery for the Housing Market
Monday, October 26th, 2009
Eleanor Howell asked:
Business both large and small have suffered at the hands of a worsening financial climate. The UK has been on the brink of recession and many companies have been forced to make cut backs, and in extreme cases, some have been forced to cease trading altogether.
Law firms have not been exempt from the economic turmoil. Some of the hardest hit have been conveyancing firms. By April 2008 the housing market had all but crashed, with clients neither buying nor selling. Faced with such uncertain times, many conveyancers feared for the future of their businesses.
In October 2008, DPS Software issued a notice based on statistics from SDLT Onlie, which revealed that DPS clients’ success rate for SDLT Online Submissions had increased by 90%. The report also showed that the number of submissions made online by DPS clients had increased by 85%.
The statistics show that since April 2008 the rate of submissions has been steadily increasing, a trend which looks set to continue. Conveyancing firms can now hope that the rate of submissions is reflecting the improving economic state of the housing market.
The Stamp Taxes Online service from HMRC allows users to submit land transaction returns over the internet. Once land transaction returns have been successfully submitted, users receive a receipt of the electronic SDLT 5 certificate. The electronic version of the paper SDLT 5 can be printed off and sent to the appropriate register [HMLR / RoS / NILR] (along with the necessary documents) for registration.
DPS Convey has been created by conveyancers for conveyancers and covers Sales, Purchase, Remortgage and HIP transactions.
In a market where margins are constantly being eroded by competition, One Office Convey can assist firms in reducing fixed overheads whilst improving the service provided.
Â
CHRISTIAN
Business both large and small have suffered at the hands of a worsening financial climate. The UK has been on the brink of recession and many companies have been forced to make cut backs, and in extreme cases, some have been forced to cease trading altogether.
Law firms have not been exempt from the economic turmoil. Some of the hardest hit have been conveyancing firms. By April 2008 the housing market had all but crashed, with clients neither buying nor selling. Faced with such uncertain times, many conveyancers feared for the future of their businesses.
In October 2008, DPS Software issued a notice based on statistics from SDLT Onlie, which revealed that DPS clients’ success rate for SDLT Online Submissions had increased by 90%. The report also showed that the number of submissions made online by DPS clients had increased by 85%.
The statistics show that since April 2008 the rate of submissions has been steadily increasing, a trend which looks set to continue. Conveyancing firms can now hope that the rate of submissions is reflecting the improving economic state of the housing market.
The Stamp Taxes Online service from HMRC allows users to submit land transaction returns over the internet. Once land transaction returns have been successfully submitted, users receive a receipt of the electronic SDLT 5 certificate. The electronic version of the paper SDLT 5 can be printed off and sent to the appropriate register [HMLR / RoS / NILR] (along with the necessary documents) for registration.
DPS Convey has been created by conveyancers for conveyancers and covers Sales, Purchase, Remortgage and HIP transactions.
In a market where margins are constantly being eroded by competition, One Office Convey can assist firms in reducing fixed overheads whilst improving the service provided.
Â
CHRISTIAN
