Stamp Duty suspended for First Time Buyers
We have just heard in the Budget that Stamp Duty has been suspended for all First Time Buyers up to a purchase price of £300,000 with immediate effect. For those buying above this figure but below £500,000, there will be no Stamp Duty payable on the first £300,000.
This a great news for First Time Buyers offering a saving of up to £5,000.
The HMRC have guidance notes regarding this Stamp Duty relief for First Time Buyers, which can be found here.