reduced stamp duty

L

liamoo

Guest
hi are there any circumstances that allow someone who has never owned a property to be liable for for a reduced rate of stamp duty on the first house that they buy.Thanks
 
Yes.

FTB (and non FTB)owner occupiers are exempt from SD on new builds under 125sqm.

FTB owner occupiers are exempt from SD on second hand properties (under 125sqm?).

Non owner occupiers are investors and are assessable for SD on all property purchases.
 
Thanks Clubman,
If you buy house for someone else to live in{Future mother in law} does this reduce your obligation for stamp duty.Thanks
 
I don't think so. What would be the circumstances - e.g. would the MIL be paying rent, who exactly would be buying the property, would the purchasers be owner occupiers? You might need professional tax advice on this matter.
 
Hi Thanks. I would be purchasing the house for future mother in law to continue living in. She would be paying rent but I would be covering the rest of the mortgage. I would not be living in the house. I thought there was a provision in the stamp duty rules to purchase a house as a first time buyer for a named person to live in.Thanks again
 
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