The Property Tax Experts
First Time Buyers Relief
If you are purchasing your first home you could be eligible for First Time Buyers Relief (FTBR). If you are unsure if you are eligible, get in touch with one of the team who will be able to fully advise you on whether First Time Buyers Relief is something you could claim.
The Property Tax Experts
Are you eligible for First Time Buyers Relief?
If you are purchasing your first home you could be eligible for First Time Buyers Relief (FTBR).
There are tests which need to be met to enable an individual to claim FTBR on their purchase as follows:
- You must not already own or ever have owned any property in the UK or anywhere in the world.
- You must intend to live in the property as your only and main home.
- The property must be a single dwelling.
- For a joint purchase both purchasers must be first time buyers.
- The property must be intended to be used for residential purposes.
The savings for FTBR can be significant but there are occasions when the relief will not apply, one common error is claiming the relief when the property purchased could be considered a multiple dwelling. It can be complex to assess whether a property is a single dwelling and getting it wrong could cost you not only the relief but also interest and penalties.
Relatus can advise whether your transaction will qualify for FTBR, if the relief was missed when you filed the original SDLT return Relatus can amend the return and claim a refund.
Until 31 March 2025 the rates for First Time Buyers are as follows:
Purchase Price | Tax Rate (UK Residents) | Tax Rate (Non-UK Residents) |
0 to £425,000 | 0% | 2% |
£425,001 to £625,000 | 5% | 7% |
From 1st April 2025 the thresholds are changing leading to a reduction in the relief:
Purchase Price | Tax Rate (UK Residents) | Tax Rate (Non-UK Residents) |
0 to £300,000 | 0% | 2% |
£300,001 to £500,000 | 5% | 7% |
Reasons to use Relatus for your Property Tax
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We have an average rating of 4.9 from over 225 reviews.
Over 10 years experience
We have helped people to pay the correct amount of SDLT and LTT for over 10 years.
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Relatus specialises in SDLT and LTT, we are made up of qualified accountants, qualified members of the Association of Taxation Technicians (ATT) and qualified (non-practicing) solicitors.
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HMRC regularly agree with our position and we have recently won an appeal at the First Tier Tax Tribunal.
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Opinion Service
We can provide full written advice to ensure that the correct amount of SDLT or LTT is paid.
Check out the SDLT rates in England
SDLT Rates in England
Want to know more?
If you have any questions about your property tax, then get in touch with our team here at Relatus who will be happy to help.
