Stamp Duty Land Tax: relief for first time buyers - guidance note
This guidance note explains the relief for first time buyers announced at Autumn Budget 2017.
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Reduced rates of Stamp duty Land Tax (SDLT) will apply for residential properties purchased from 8 July 2020 until 30 September 2021.
You can use the SDLT calculator to work out how much tax you’ll pay.
At Budget 2017, relief from SDLT was introduced for first time buyers. The relief applies from 22 November 2017 to purchases of residential property for £500,000 or less, provided the purchaser intends to occupy the property as their only or main residence.
On 29 October 2018 the relief was extended to first time buyers purchasing through approved shared ownership schemes who choose to pay SDLT in stages. This will apply from 22 November 2017.
From the 8 July 2020 until 30 June 2021, the relief for first time buyers is temporarily disapplied due to the introduction of temporary reduced rates for residential property. First time buyers purchasing their first home between 8 July and 30 June 2021 should use the reduced rates. The relief will then apply from 1 July 2021.
Last updated 8 March 2021 + show all updates
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Purchase deadlines extended for reduced rates for Stamp duty Land Tax.
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The government has temporarily increased the nil rate bands of residential Stamp Duty Land Tax from £125,000 to £500,000.
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Question 21 in the 'Questions and Answers' section of the attachment has been updated.
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The relief has been extended to first time buyers purchasing through shared ownership schemes who choose to pay Stamp Duty Land Tax in stages.
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First published.
