Reliefs: First Time Buyers - Conditions applying to the land
The relief may be claimed if the following conditions are met:
- The subject-matter of the transaction must consist wholly of an interest in land which is residential property (defined at FA03/S116). Non-residential or mixed use property does not qualify.
- The acquisition must be of a major interest in land (defined at FA03/S117). That is, a legal or beneficial interest in freehold or leasehold land. In the case of a grant or assignment of a lease, the relief does not apply where the lease has less than 21 years to run at the time of acquisition.
- The transaction must not be linked with any others for SDLT purposes (linked transactions are defined at FA03/S108) except where an acquisition of a separate interest in residential property within FA03/S116(b) or (c) is linked with the acquisition of a building within FA03/S116(a): for example, a separate lease of a garage in a block.