Martin Tolhurst

No Stamp Duty for First Time Buyers

The new relief for Stamp Duty Land Tax is for purchases of residential property up to a purchase price of £250,000, where the purchaser or all the purchasers are first time buyers and they intend to occupy the property as their only or main residence.

The new relief is available for a period of two years for completions which take place on or after 25 March 2010 . A 'first time buyer' is a person who has not acquired a freehold or leasehold interest in residential property in the U K (except a lease with less than 21 years to run) or an equivalent interest anywhere in the world.

If you would like to discuss how the SDLT relief will effect you then please call Nikki Ward on 01233 505575.