Pay nothing on stamp duty in England, Wales & Scotland
Updates made to Stamp Duty means that first time buyers (England, Northern Ireland and Wales) will not have to pay stamp duty on anything worth up to £300,000.
Additionally, if you buy a property costing £500,000, the stamp duty rate will be 5%. This means that you would not be charged for the first £300,000 and you will only have to pay the tax for the remaining £200,000.
However, once the land or property exceeds the cost of £500,000 then you will receive the standard rates of stamp duty.
For a more detailed explanation, check out our Changes to Stamp Duty Changes blog post, with everything you need to know.