PART 2First-time buyer relief
Amendment of section 25 of the Act2
In section 25(3) of the Act (amount of tax chargeable), after paragraph (za)2 insert—
zb
schedule 4A (first-time buyer relief),
Amendment of section 27(1) of the Act3
In section 27(1) of the Act (reliefs), after “schedule 4 (relief for certain acquisitions of residential property),” insert—
schedule 4A (first-time buyer relief),
Amendment of section 65 of and schedule 20 of the Act4
1
In section 65 of the Act (general interpretation), after the definition of “employee” insert—
“first-time buyer relief” means relief under schedule 4A,
2
In schedule 20 of the Act (index of defined expressions), after the entry for “exempt transaction” insert—
first-time buyer relief
section 65
Insertion of schedule 4A (first-time buyer relief) into the Act5
After schedule 4 of the Act, insert schedule 4A contained in the schedule of this Order.
Transitional provision6
The amendments made by articles 2 to 5 apply only in relation to a chargeable transaction in respect of which—
a
the contract is entered into on or after 9th February 2018; and
b
the effective date is on or after 30th June 2018.