SDLT relief for first-time buyers extended

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The existing Stamp duty land tax (SDLT) exemption for first-time buyers will be extended to shared ownership purchases. The Chancellor stated that the exemption of 'first-time buyers' SDLT on properties up to £300,000 will be extended to first-time buyers of shared ownership properties up to £500,000,' adding that this 'relief will be retrospective for anyone who has purchased property since the last Budget'. The extension will cover property sales to first-time buyers in England and Northern Ireland, but not Wales and Scotland where property taxes are devolved.

This change will apply to relevant transactions with an effective date on or after 29 October 2018, and will also be backdated to 22 November 2017 so that those eligible who have not previously claimed first-time buyers relief will be able to amend their return to claim a refund

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Added By: Sue Taylor on 01st Nov 2018 - 14:06
Number of Views: 58
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