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SDLT first-time buyer thresholds

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The Guardian reports (28 June) that a Labour government would allow the temporarily increased £425,000 stamp duty land tax nil rate band threshold for first-time buyers to fall back to the default £300,000 from 1 April 2025. This is a straightforward acceptance of the current position, with the increased amount having been introduced on a temporary basis for land transactions with an effective date falling in the period between 23 September 2022 and 31 March 2025.

The Conservatives have promised to retain the threshold on a permanent basis, should they be returned to government.

The BBC reports that, according to the Office for National Statistics, the average house price for first-time buyers in Great Britain in April 2024 was £236,000.

Issue: 1670
Categories: News