First-time buyers’ tax reminder
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.