First-time buyers save £160m on stamp duty

Some 70,000 first-time buyers have collectively saved £159m in stamp duty since the exemption was introduced in November last year, an average of £2,300 each. The Government still collected around £1bn more in stamp duty (£12.9bn) in the 2017-18 tax year, compared to the previous 12 months. First-time buyers in London  claimed the highest relief, according to HMRC, with residents in the capital claiming on average £4,300, almost double the national average.

City AM (26/04/2018)