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Stamp Duty Exemption for First Time Buyers Critical Dates- Act Now!

First time buyers looking to enter the property market should act immediately to take advantage of the stamp duty holiday currently in force and which is due to come to an end soon.The Glasgow Law Practice Conveyancing department confirms that the end of HMRC`s exemption of Stamp Duty for first time buyers up to £250,000 is closer than you think following clarification of the effective dates. We can still assist you in taking advantage of this exemption.

The exemption is due to end on 25th March 2012 and we have today received clarification from HMRC that transactions must have completed prior to that date.  This means that the price must have been paid in full by 23rd March 2012 because the 25th is in fact a Sunday.

It does not appear to matter to HMRC that in Scotland the effective date of a contract is usually seen as the date of conclusion of missives.  First time buyers beware. You should act now, contact our Conveyancing Department for assistance in buying your first property with the benefit of the stamp duty exemption. 

If we can assist the please contact our Conveyancing Director, Robert Fitzpatrick on {{CONTACT_NUMBER_CONTENT}} or fill out our online enquiry form.