Ruth Kerley - Partner, Coles Miller

EXEMPTION OF STAMP DUTY FOR FIRST TIME BUYERS19th Apr 2012

by on 19th Apr 2012

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Ruth KerleyThe 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.

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