EXEMPTION OF STAMP DUTY FOR FIRST TIME BUYERS19th Apr 2012
The Government has stated that provided certain conditions are met Stamp Duty will not apply for First Time Buyers on property purchases up to £250,000.
The main criteria are:
- The purchased property will be occupied as the only or main home.
- Purchasers have never owned or part owned any other property in this country or abroad.
- The property will only be used for residential occupation.
- The purchase of the property will not be linked to any other property transaction.
- The property will be bought in the names of the purchaser(s) only.
- No other reliefs in respect of Stamp Duty are being claimed.
Coles Miller are requesting that First Time Buyers sign a declaration to claim this relief.