Fresh from the Department of Silly Ideas is the provision that "first time buyers" will be allowed to escape 1% Stamp Duty Land Tax on properties purchased for between £125,000 and £250,000.The rules are:
• The purchaser - or all purchasers if buying jointly - must be buying their first home
• They cannot have previously owned another property anywhere in the world
• They must be buying somewhere that will be their only or their main home
• The completion date is on or after 25 March 2010 and before 25 March 2012.
The question is: how will anyone be able to check up on this? I have over the years seen many people buying property, some for the first time, and others for the second and subsequent times; and I could not tell them apart purely on that criterion. Unfortunately, or maybe not, second-time buyers do not have green hair, or warts on the ends of their noses.
The good news: people who have title deeds to bits of the moon won't have to worry about that.
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