Stamp Duty cut helping first time buyers?

May 22, 2018

Following on from our article – Budget update on Stamp Duty Land Tax (SDLT) for first time buyers, the most recent statistics from HMRC state that around 69,000 first time buyers have benefited from the stamp duty exemption since its introduction in November 2017.

The relief currently applies in England and Northern Ireland and can only be claimed on properties worth up to £500,000.00 with an exemption on the first £300,000.00 and a 5% rate on the portion of the purchase price between £300,000.00 to £500,000.00.

This article has been produced for general information purposes and further advice should be sought from a professional advisor.

For advice and assistance in relation to all aspects of the purchase process please contact the residential property team at Cleaver Fulton Rankin on 028 9024 3141.

Janet Knox, Para Legal, Residential Property Team, Cleaver Fulton Rankin, Solicitors.