SDLT: relief for first time buyers

As confirmed in the Autumn Budget 2017, first time buyers paying ?300,000 or less for a residential property will pay no Stamp Duty Land Tax (SDLT). First time buyers paying between ?300,000 and ?500,000 will pay SDLT at 5% on the amount of the purchase price in excess of ?300,000, a reduction of ?5,000 compared to the amount of SDLT they would have paid previously.

First time buyers purchasing property for more than ?500,000 will not be entitled to any relief and will pay SDLT at the normal rates.

The relief must be claimed in an SDLT return.

For? information on other changes confirmed in the Autumn 2017 Budget, read our budget summary report here.