As a first time buyer you will receive Stamp Duty Land Tax (SDLT) relief, meaning you will pay no stamp duty on properties valued up to £300,000. For properties up to £500,000, you will only pay stamp duty on any value over £300,000, up to a maximum of £200,000. For properties over £500,000 you will have to pay any standard stamp duty charges.
(Correct at the time of writing – January 2019)