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  "path": "/money/stamp-duty-hate-tax-homebuyer",
  "publishedAt": "2026-02-12T00:01:03.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "TV licence SLAMMED as BBC fee to 'be more expensive than Netflix' - how much will you pay?",
    "'Stealth tax' hits graduates as student loan interest increases by £484 a second",
    "British public turns on Labour's high taxes and spending as poll reveals major shift",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nFirst-time property purchasers handed over an average of £4,073 in stamp duty during the 2024-25 financial year, even while benefiting from relief schemes, according to newly released HM Revenue and Customs (HMRC) data.\n\nThe figures, disclosed through a freedom of information request submitted on behalf of financial app Plum, reveal the substantial tax burden facing those attempting to get onto the housing ladder in England and Northern Ireland.\n\n###\n\n\n\n\nHMRC's statistics specifically track individuals who claimed first-time buyers' relief on transactions attracting a tax liability during the period.\n\nThe revenue authority's data showed that more than 13,000 individuals claiming first-time buyer relief faced stamp duty bills of £5,000 or above.\n\n###\n\n\n\n\n###\n\n\n\n\nGiven that the nil rate band stood at £425,000 during this period, the majority of relief claimants with a tax liability would have purchased properties exceeding this threshold.\n\nHMRC noted that its records capture only those who claimed the specific relief, rather than all first-time purchasers entering the market.\n\nA further 12,000 transactions involved relief claimants paying less than £2,000 in stamp duty, demonstrating the wide variation in tax bills depending on property values.\n\nChanges implemented in April 2025 have made the stamp duty regime considerably less favourable for those purchasing their first home.\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * TV licence SLAMMED as BBC fee to 'be more expensive than Netflix' - how much will you pay?\n  * 'Stealth tax' hits graduates as student loan interest increases by £484 a second\n  * British public turns on Labour's high taxes and spending as poll reveals major shift\n\n\n\n###\n\n\n\n\n###\n\n\n\n\nThe nil rate threshold, which had been temporarily elevated to £425,000, was reduced to £300,000, meaning buyers now face tax on a larger portion of their purchase price.\n\nAdditionally, the ceiling at which first-time buyers can access preferential rates dropped significantly, from £625,000 to £500,000.\n\nThose acquiring properties above the new £500,000 limit must now pay standard stamp duty charges rather than benefiting from the first-time buyer relief structure.\n\nThese alterations apply to property transactions in England and Northern Ireland.\n\n###\n\n\n\n\n###\n\n\n\n\nRajan Lakhani, a personal finance expert at Plum, warned that reduced thresholds would push tax bills higher.\n\n****He said: \"Stamp duty has long been one of the most hated taxes there is, but the pain faced by first-time buyers is particularly acute given the financial challenges they already face in raising a deposit.\"\n\nMr Lakhani suggested Lifetime Isas could help offset some costs, noting that two years of maximising the annual allowance would generate sufficient bonus funds to cover stamp duty bills under £2,000.\n\nThe Government has announced plans to consult on a new savings product exclusively for first-time buyers, featuring a bonus for house purchases.\n\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards:The GB News Editorial Charter **",
  "title": "Stamp duty slammed as 'most hated tax' as homebuyers hit with extra £4,000 charge"
}