Stamp Duty has been scrapped for first time buyers on property up to £300,000
As announced in today’s budget, if you are a first time buyer and the property is up to £300,000 in value then you will no longer pay SDLT. Also any first time buyer buying a property up to the value of £500,000 will not pay any stamp duty on the first £300,000. These new rules will be applicable from today.
Mr Hammond has claimed this means that 95% of first-time buyers will see stamp duty cut and 80% would not pay any at all.