Stamp Duty Changes for First Time Buyers
Successive changes to stamp duty rules have made this one of Britain's most complicated taxes. Today's Budget announcement of an exemption for first-time buyers introduces another factor.
What do today's changes mean for first-time buyers?
- First-time buyers whose property is worth less than £300,000 will pay no stamp duty.
- Where properties are more expensive, the first £300,000 will be free of duty provided the property's total price is £500,000 or less.
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