Written Question·Treasury·UIN 2873

First Time Buyers

Tabled: 30 August 2024

Answered: 9 September 2024

Question

Priti Patel

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential (a) merits of extending First Time Buyers’ Relief after March 2025 and (b) impact of not extending First Time Buyers’ Relief after March 2025 on first time buyers.

Answer

James Murray

The level at which purchasers of residential property start paying Stamp Duty Land Tax (SDLT) is currently £250,000, and this is due to revert to £125,000 on 1 April 2025. For first-time buyers, the nil-rate band is currently £425,000 and the purchase pri...

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