Overview
Farnworth Rose, a firm of solicitors based in Lancashire, offers services across matrimonial, conveyancing, commercial wills, probate, and litigation.
The firm faced challenges in accurately calculating Stamp Duty Land Tax (SDLT) for clients, particularly in more complex transactions.
Emma Moore - Director of Residential Conveyancing
The Challenge
The main risks included potential miscalculation of SDLT and the associated professional indemnity exposure. Calculations were often time-consuming, requiring detailed research of HMRC rules, collection of client information, and manual verification. Clients referred from accountants or financial advisors frequently ended up back with the solicitors, creating frustration and inefficiencies.
Our Approach
Farnworth Rose adopted Compass to streamline the SDLT process. Compass provided expert guidance, a fully auditable trail, and access to a panel of independent tax advisers for complex queries. By integrating Compass into their workflow, the firm gained a reliable resource to support accurate, compliant SDLT calculations.
The Outcome
Using Compass, Farnworth Rose significantly reduced the time spent on SDLT calculations while improving accuracy and compliance. The firm could confidently handle complex transactions without risk of over- or underpayment.
Clients received clear, assured advice, enhancing their experience and reinforcing trust in the firm. Overall, Compass allowed Farnworth Rose to deliver a higher level of service efficiently, while mitigating SDLT-related risks and professional exposure.
Key Results
- Streamlined workflow, saving conveyancing team time
- Reduced risk of SDLT miscalculation and HMRC issues
- Improved compliance and auditability
- Enhanced client reassurance and service quality
- Enabled the firm to take on complex SDLT cases with confidence
Conclusion
Farnworth Rose found Compass to be a cost-effective solution that mitigated the risk of SDLT errors and delivered substantial value to both the firm and its clients. The firm would highly recommend Compass to others facing similar challenges.
