Stamp Duty Land Tax – First time buyers
With effect from 14 June 2010, first-time buyers who are claiming relief from stamp duty land tax (SDLT) should ensure that code 32 is entered on the SDLT return.
Relief from SDLT is generally available to first-time buyers where all the following conditions are met:
- The effective date of acquisition is on or after 25 March 2010 and before 25 March 2012
- The consideration given is £250,000 or less
- The purchaser intends to live in the property and it will be their only or main home
- The purchaser has not previously owned property or land either in the UK or anywhere else in the world – including property bought with anyone else