Chancellor scraps stamp duty land tax for most first time buyers

(November 2017) The Chancellor has announced in the Budget on Wedesday 22nd November that first-time buyers will pay zero stamp duty on the first £300,000 on any home that costs up to £500,000 with immediate effect. On properties costing between £300,000 andf £500,000 there is a reduced rate of 5% on the sum over £300,000. Only when the purchase price exceeds £500,000 will a first time buyer pay the full standard rate.

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