London homes now stamp duty free for first-time buyers
(Picture: ES)First-time buyers no longer pay stamp duty on the first £425,000 of a home, when the total purchase price is £625,000 or less, as part of sweeping tax reforms announced in Chancellor Kwasi Kwarteng’s Growth Plan last week.
The changes are permanent and effective from September 23, meaning that anyone who found themselves completing their purchase on the day of the announcement saved up to £11,250 if buying a home at the top end of the new first-time buyer cap.
