If you are a first-time buyer looking to buy a buy-to-let property, have reduced rates depending on where you spend your money.
In England and Northern Ireland, you can claim tax relief on stamp duty for any property worth up to £300,000, while only paying 5% on the portion between £300,001 and £500,000. This means you won’t pay stamp duty on a property worth less than £300,000, provided it’s your first-ever property purchase.
There are no stamp duty exemptions for first-time buyers for the portion of any property over £500,000.
Scotland also has relief for first-time buyers, increasing the amount you don’t have to pay stamp duty on to £175,000. Wales has no stamp duty exemptions or relief for those buying their first home.
While it’s improbable you’ll be buying a buy-to-let property for your first property, it is worth noting it’d be cheaper this way.