This is a government scheme which allows exemption from paying stamp duty for people buying residential properties or land.
Disadvantaged Areas Relief for Stamp Duty Land Tax
This relief can reduce the amount of Stamp Duty Land Tax payable in areas designated by the government as 'disadvantaged' and applies to:
A property (or the land on which it stands) is inside a qualifying area.
Is a residential property transaction where the amount paid (or the value of any other 'consideration') is £150,000 or less
The residential element of 'mixed use' (business and residential) property transactions - for example where a shop and a flat above it are bought together and the amount given for the flat is £150,000 or less.
For more information and how to apply please visit the HM Revenue and Customs Disadvantaged Areas Relief pages which are available below.
In Southampton there are two designated "disadvantaged" areas, these are the 7th May 1998 ward boundaries of Bargate and Redbridge. Please see the document below for the boundaries. A property will also qualify for relief if, at 27 November 2001, it had the same full postcode as a property which was situated in a qualifying area at the relevant date.
If you would like confirmation of whether or not your property is within the 1998 boundary please contact us using the details below.