The relief exempts from tax the first £175,000 of the chargeable consideration for the purchase of a dwelling by a first-time buyer (Sch. 4A, para. 3).
The relief applies in relation to chargeable transactions entry into the contracts for which takes place after 8 February 2018 and the effective date of which falls after 29 June 2018 (Land and Buildings Transaction Tax (First-Time Buyer Relief) (Scotland) Order 2018 (SSI 2018/221), art. 5)).