STAMP DUTY FOR FIRST-TIME BUYERS – WHAT ARE THE RULES AROUND EXEMPTION? IDEAL HOME

Make sure you know the different rules around stamp duty for first-time buyers, which should mean a lower stamp duty bill.

When it comes to stamp duty for first-time buyer, you could benefit from a discount on their overall bill compared to second-time buyers – and it often means you’ll pay no stamp duty at all.

First-time buyer stamp duty relief means those buying a house for the first time often have one less cost to worry about. But there are strict rules around claiming the relief, so it is important to understand who is eligible and how the rules work.

Thanks to a stamp duty shake up by former Chancellor Kwasi Kwarteng in last September’s mini budget, the rules around when first-time buyers must start to pay stamp duty became even more generous.

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