Search Acumen launches commercial SDLT submission tool
The legal technology and property data firm said the new offering extends its end-to-end digital proposition for commercial real estate transactions.
Search Acumen has launched a dedicated commercial Stamp Duty Land Tax (SDLT) submission process, enabling property professionals to submit commercial transactions directly to HMRC through its platform.
The legal technology and property data firm said the new offering extends its end-to-end digital proposition for commercial real estate transactions.
The platform connects directly to HMRC, allowing SDLT submissions to be completed online while pre-populating up to 70% of the form using information already held within the Search Acumen platform.
The firm said this reduces manual data entry, lowers the risk of errors and speeds up the submission process.
For transactions involving multiple commercial properties, users can submit a single SDLT form through a merge tool, while master templates can be cloned to create multiple submissions.
Returned SDLT certificates are also automatically attached to AP1 forms.
Search Acumen said its post-completion platform has processed more than two million AP1 submissions and currently handles around 35,000 SDLT applications each month.
Andrew Lloyd, managing director at Search Acumen, said: “This is now the simplest and most efficient post-completion tool on the market for lawyers today.
“It means Search Acumen offers commercial real estate lawyers a true full-service digital solution that supports data accuracy and efficiency, thereby significantly reducing risk exposure.
“I am of the firm view that the UK’s property market has the potential to contribute significantly to the growth of the economy, but only if we take a forward-looking approach and make use of the advances in technology to allow us to streamline previously hidebound processes.
“We are continually developing tools to ease friction points in a property transaction, enabling all parties to work with more data points and greater clarity that underscore deal confidence.
“Tens of thousands of SDLT forms are submitted to HMRC every year and so we are very proud to be able to offer a digital solution for commercial property professionals that promises to save them huge amounts of time – time they can use to focus on what they do best and deliver for clients.”
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