First-time buy­ers’ tax re­minder

Yorkshire Post - Property - - PROPERTY -

ES­TATE agents have is­sued a re­minder to all first-time buy­ers that the Gov­ern­ment’s hol­i­day on Stamp Duty Land Tax will come to an end in two months’ time, on March 24.

Wendy Evans Scott, pres­i­dent of the NAEA says: “With only two months re­main­ing, first-time buy­ers must act quickly to avoid pay­ing Stamp Duty Land Tax on their first home pur­chase. If you’re cur­rently in a chain and wait­ing to com­plete your pur­chase then make sure that oth­ers in the chain know about the end of the tax hol­i­day too.”

Af­ter the tax ex­emp­tion has come to an end FTBS will face a tax of one per cent on house pur­chases be­tween £125,000 and £250,000, and a three per cent tax on pur­chases over £250,000.

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