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STAMP DUTY LAND TAX (SDLT) FIRST-TIME BUYER RELIEF

The SDLT first-time buyer relief (which applies from 22 November 2017) means that if you are eligible, no SDLT is payable on the first £300,000 of the purchase price of a property (and the rate is 5% between £300,001 and £500,000. Where the property being purchased exceeds £500,000 the normal rates of SDLT apply to the whole purchase price)

To be eligible, you must satisfy the following conditions:

  • none of the purchasers currently or previously, wholly or partly, owned another dwelling anywhere in the world, even one they have not lived in.
  • the purchase price of the property is not greater than £500,000
  • the purchase is only of one dwelling which the purchasers intend to occupy as their home. 

The rules are strict so it's worth spending some time checking you dont fall foul of any of the conditions.

Contact us

EP Tax
Unit 3D
Castledown Business Park
Ludgershall
SP11 9FA

M: 07813 783 252
T: 01264 848 452
E: admin@eptax.co.uk

 

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