Labour's manifesto mentions the relief for first-time buyers for residential property where the relevant consideration is not more than £250 000 and states that this relief is to be paid for by increasing the rate of SDLT to 5% for homes worth more than £1 million. These policies have now been implemented in FA 2010 s 6 (relief for first-time buyers) and s 7 (rate in respect of residential property where consideration is over £1 million).
The conditions for the relief for first time-buyers are quite restrictive and there are bound to be buyers who will wish to claim the relief who will be disappointed.
However both of these policies assuming that they are not overturned following the election should provide a temporary boost at the lower and upper ends of the housing market.
The relief for...
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Labour's manifesto mentions the relief for first-time buyers for residential property where the relevant consideration is not more than £250 000 and states that this relief is to be paid for by increasing the rate of SDLT to 5% for homes worth more than £1 million. These policies have now been implemented in FA 2010 s 6 (relief for first-time buyers) and s 7 (rate in respect of residential property where consideration is over £1 million).
The conditions for the relief for first time-buyers are quite restrictive and there are bound to be buyers who will wish to claim the relief who will be disappointed.
However both of these policies assuming that they are not overturned following the election should provide a temporary boost at the lower and upper ends of the housing market.
The relief for...
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If you do not subscribe but are a registered user, please enter your details in the following boxes:
