| answer text |
<p>The Government reformed Stamp Duty Land Tax on residential properties at Autumn
Statement 2014, cutting the tax for 98% of people who pay it, unless they are purchasing
additional property.</p><p> </p><p>The Government’s priority is to support first-time
buyers. At Autumn Budget 2017, the Government removed Stamp Duty Land Tax for all
first-time buyers purchasing properties up to £300,000 with the relief also extending
to purchases worth up to £500,000. Since introduction, these changes have benefitted
121,500 households with one million households expected to benefit over the next five
years.</p><p> </p><p>The Government keeps all taxes under review as part of the Budget
process.</p>
|
 |
