Stamp Duty & your First Time Purchase
AST HAMPSONS | Tuesday 21 April - 11.32
Stamp Duty & your First Time Purchase
| Property Price | Stamp Duty Before Budget | Stamp Duty Now |
|---|---|---|
| £125,000 (England & NI) | £0 | £0 |
| £145,000 (LBBT Scotland) | £0 | £0 |
| £150,000 (Wales) | £0 | £0 |
| £200,000 (England, Wales NI) | £1,500 | £0 |
| £300,000 | £5,000 | £0 |
| £400,000 | £10,000 | £5,000 |
| £500,000 | £15,000 | £10,000 |
| Above £500,000 | no change |
It must be said that this change comes with a few more requirements to meet:
- The property to be purchased must be intended for use as the First Time Buyers only or main residence
- The first time buyer may not have inherited any property or received a property as a gift
- The first time buyer must never have held a share of a residential property anywhere in the world
We will be clarifying all of these points with our clients before completion of their purchase.
The HMRC Stamp Duty Calculator can be found at https://www.tax.service.gov.uk/calculate-stamp-duty-land-tax















