First time buyers must act quickly to avoid paying stamp duty
Tuesday, December 13, 2011
Published by MILLIE DYSONSurveying & Conveyancing | 0 Comments
With only three months of the stamp duty ‘tax holiday’ remaining, first time buyers must act quickly to avoid paying Stamp Duty Land Tax on their home purchase, warns the National Association of Estate Agents.
Peter Bolton King, Chief Executive of the NAEA said:
“From March 2012 the holiday is well and truly over for first time buyers. Once the Government ends the tax exemption, FTBs will face a tax of three per cent on all home purchases over £250,000.
“With many first time buyers trying to purchase their first home before the tax exemption deadline, our members will be working closely with those first time buyers who are able to purchase before March 2012 to guide them through a difficult and challenging market place.”