No doubt some of you have been closely following the Chancellor of the Exchequer’s Autumn Budget that was announced yesterday, we certainly have.
One of the main changes that will certainly be good news for prospective first time buyers is Government announcing that it will abolish stamp duty for first time buyers up to a limit of £300,000. This is immediately effective and means that 95% of first time buyers who would pay stamp duty will benefit.
80% of people buying their first home will not have to pay stamp duty.
Another welcomed change for first time buyers is that 300,000 new homes will be built over the next 5 years.
The national minimum wage is going to increase from April 2018. The wage for those that are over 25 will increase from £7.50 an hour to £7.83 per hour. Those in work will also benefit from an increased personal allowance for tax purposes from £11,500 to £11,850 from April 2018.
These are just some of the changes. For further information please visit the Gov.uk website that lists all of the announcements made.
The above information will certainly be important to anybody currently in the process of/intend to purchase their first property. As outlined above, the stamp duty changes are immediately effective. JNP Legal have a dedicated conveyancing team who can guide prospective buyers through property transactions including sales and purchases. We would be more than happy to advise regarding stamp duty in general and how the above changes may affect you directly.
We also have an Employment Department who can advise you fully regarding any employment law queries including wage enquiries.
We have offices in Merthyr Tydfil, Nelson and Llanishen, Cardiff . Our Nelson and Llanishen office is open 9am-5pm Monday to Friday and our Merthyr Tydfil Office is open 9am-5pm Monday to Friday and 9am-12pm on a Saturday for clients’ convenience.
As well as the above matters we also deal with: Family and child law, personal injury claims, civil litigation, criminal law and wills and probate. We have a variety of funding methods in place.
Please do not hesitate to contact us should you require assistance. Our contact details are as follows:
– Nelson office: 01443 450561
– Merthyr Tydfil office: 01685 350421
– Llanishen Office: 02920 763211
We can also be contacted via email on firstname.lastname@example.org.