The Budget on 24 March 2010 announced that first time buyers will not have to pay stamp duty on residential properties of up to £250,000 . This will apply to any purchases completed on or after 25 March 2010 until 25 March 2012.
Please note that to qualify as a first time buyer, you must never have owned a property anywhere in the world. This includes any properties you may have inherited rather than actually purchased. If you are buying a property jointly with another person, you must BOTH be first time buyers to qualify.