SDLT First Time Buyers Rate

Posted on Posted in Articles, Real Estate

Since November 2017 the government has introduced a new concessionary rate for first time buyers up to £300,000. This means that for first time buyers there is no SDLT payable on property that is below £300,000. In order to qualify for the First Time Buyer Rate the person buying must be someone who has never purchased a property (or an interest in a lease over 21 years) before and is buying the property to live in it. Therefore it does not apply to buy to let or investment purchases, regardless of whether the buyer has owned before.

This information is in no way to be taken as legal advice or relied upon.

This information is in no way to be taken as legal advice or tax advice. It is for information purposes only and is in no way to be relied upon. You should always seek the appropriate professional legal advice before attempting to act on any of the information given here.

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