Stamp DutyAug 1 2018

First-time buyers save £284m in stamp duty relief

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First-time buyers save £284m in stamp duty relief

Commenting on the latest figures, Mel Stride, financial secretary to the Treasury, said: "Once again, we can see that our cut to stamp duty for first-time buyers is helping to make the dream of home ownership a reality for a new generation – exactly as we intended.

"In addition, we’re building more homes in the right areas, and have introduced generous schemes such as the Lifetime Isa and Help to Buy."

HMRC's statistics also showed the number of stamp duty land tax transactions rose 3 per cent to 276,700 between the first and second quarter of 2018, but still remain lower than 2017 levels.