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HMRC internal manual

Stamp Duty Land Tax Manual

From
HM Revenue & Customs
Updated
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Reliefs: First Time Buyers - General overview: FA03/S57AA/S73CA

This relief applies to purchases of residential property where the consideration is more than £125,000 and not more than £250,000 and the purchaser (or each of them) is a first-time buyer.

The relief applies:

  • where the effective date of the transaction is on or after 25th March 2010 and before 25th March 2012, and
  • the chargeable consideration

    • for a freehold interest or the assignment of a lease or
    • other than rent (i.e. a premium), for the grant of a lease

is more than £125,000 and not more than £250,000.

The relief does not apply to any tax which may be payable under FA03/S56/SCH5 on the net present value of rent.

The relief is claimed by entering code 32 in the appropriate field of the land transaction return.

Further detail of the conditions applying to the land is at SDLTM29820

Further detail of the conditions to which the purchaser(s) must meet is atSDLTM29830

Further detail on the circumstances in which the relief can be claimed in conjunction with another relief is at SDLTM29840

Circumstances where we consider that the relief can be claimed are at SDLTM29850

Circumstances where we consider that the relief can not be properly claimed are at SDLTM29860