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First Time Buyers Stamp Duty

Posted on 19 December, 2017 at 3:45

Stamp duty has now been abolished for most first time buyers in England, Wales and Northern Ireland.

A permanent change to the initial stamp duty threshold for first time buyers means that anyone buying their first home won't be liable for stamp duty if the purchase price is below £300,000.

The new relief has been introduced with immediate effect and applies to anyone purchasing their first home from November 22nd 2017.

First time buyers will need to declare that they have never owned a property either in the UK or abroad. A special first time buyer code will need to be submitted with the stamp duty return once a home is purchased.

Full Stamp Duty relief is available up to £300,000, with reduced liability up to £500,000. Any purchases above £500,000 will attract the normal stamp duty rates on the whole purchase price.

https://www.stampdutycalculator.org.uk/stamp-duty-first-time-buyers.htm" target="_blank">For further information take a look at the Stamp Duty Calculator

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