The effective date is usually completion, but it can be earlier, for example if you move in first.
Do you always need to file?
Owing no tax doesn't by itself mean you don't need a return. For example, a first-time buyer paying £0 because of relief still needs one. But some transactions don't need a return at all, such as many gifts with no payment or mortgage involved and some low-value purchases. Your conveyancer will confirm.
Who files and pays
Your solicitor or conveyancer usually files the return and pays the tax for you, but the legal responsibility stays with the buyer.
Missing the deadline
- Late filing penalties start at £100 and rise the longer the delay
- Interest is charged on unpaid tax
Scotland (LBTT) and Wales (LTT) have their own returns, with a 30-day deadline.