Legal
Updates
Relaxation of Stamp Duty
This was introduced for 2009 and has come to an end, and despite requests to do so, the Government decided not to extend it.
Instead, in the March budget, relief was provided to first time buyers by increasing the nil rate band to £250,000. There are conditions:
1. All purchasers must be genuine first time buyers i.e. have not previously owned a property or a share in a property.
2. The property being purchased must be intended to be used as a principal dwelling house and not as an investment property.
Apart from the above, the old rates still apply to all transactions.
Please contact us for further details.
