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(1)     Part 4 of FA 2003 (stamp duty land tax) is amended as follows.

(2)     After section 57A insert—

“57B First-time buyers

(1)     Schedule 6ZA provides relief for first-time buyers.

(2)     Any relief under that Schedule must be claimed in a land transaction return or an amendment of such a return.”

(3)     After Schedule 6 insert—

Eligibility for relief

1

(1)     Relief may be claimed for a chargeable transaction if the following conditions are met (but this is subject to sub-paragraph (7)).

(2)     The first condition is that the main subject-matter of the transaction consists of a major interest in a single dwelling (“the purchased dwelling”).

(3)     The second condition is that the relevant consideration for the transaction (other than any consisting of rent) is not more than £500,000.

(4)     The third condition is that the purchaser, or (if more than one) each of the purchasers, is a first-time buyer who intends to occupy the purchased dwelling as the purchaser's only or main residence.

(5)     The fourth condition is that—