The Stamp Duty Land Tax Change – A Huge Relief for First-Time Buyers

It was announced yesterday that Stamp Duty Land Tax will be scrapped immediately for first-time buyers of homes up to £300,000.

The move was made in an attempt to reduce the ever growing gap between homeowners and first-time buyers and is set to benefit 95% of first time buyers. The move will likely abolish Stamp Duty for about 80 % of them. It’s predicted that thanks to this change 300,000 homes would be built by the middle of the next decade and that more than one million young people would take advantage of this change over the next five years.

Article by Angie Newnham

Having worked for various law firms in the Bournemouth and Poole area Angie Newnham decided to set up her own business in 2010. Angie’s experience covers a range of legal disciplines including Property Law and Conveyancing, which includes both residential, commercial and agricultural work, Social Housing, Landlord & Tenant issues, Wills, Lasting Power of Attorney and a niche interest in equine law and equestrian agreements.