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First Time Buyer SDLT Relief To End
Currently if you are buying a residential property as your main residence for a price not exceeding £250,000 and you are a first time buyer, you may not have to pay Stamp Duty Land Tax on the purchase price. This concession expires on 24 March 2012, with the effect that, any purchase with an effective completion date of 25 March 2012 or later cannot benefit from the relief, even if the contract for the purchase of the property is dated before that date. The relief gave a saving of £2,500 on a house purchase of £250K.
As from 25 March 2012 the usual threshold of £125,000 for 1% Stamp Duty exemption will remain in place for all home buyers. For house purchases of £125,000 up to £250,000 1% Stamp Duty is to be paid.
Please contact a member of our Conveyancing Team on 01306 880110 if you require further information.
Posted on 24/01/2012 by Pam Bowring
Downs Solicitors new promotions
Downs Solicitors LLP, has announced four recent promotions reflecting the growth and success of the firm.
Surrey Solicitor Qualifies as Mental Capacity (Welfare) Accredited Legal Representative
We are delighted to announce that Liz Dalgetty has achieved an accredited qualification that recognises a high standard of care for vulnerable clients.
Downs supports Cobham Foodbank initiative
Downs has announced official sponsorship of Cobham Area Foodbank to help towards the cost of replacing the Foodbank’s van, which is used to collect food from donation points in the local churches and supermarkets, to take it to and from the Foodbank’s warehouse, ready to be distributed at the Foodbank’s distribution centre.