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Sylvia A Gillham

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Autumn Budget 2017 and Stamp Duty; What does it mean?

Yesterday, Philip Hammond delivered his Autumn Budget, and the chancellor announced Stamp Duty Land Tax relief for first-time buyers.

From 22 November 2017, Stamp Duty Land Tax will be abolished for first-time purchases up to £300,000 and the existing rate of 5% will apply between £300,000 and £500,000. The relief will not apply to properties above £500,000.

These changes take place with immediate effect and HMRC have provided updated guidance.

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