UK Homebuyers Who Miss Tax Deadline to Pay Up to £11,250 Extra

Tens of thousands of Britons currently in the process of purchasing a home are on course to miss a key tax deadline, with some first-time buyers facing more than £11,000 ($13,885) in extra charges, according to a new report.

Property website Rightmove said almost 74,000 homemovers hoping to complete transactions by March 31 will see the process stretch into April when the thresholds for paying stamp duty become less generous.

That includes almost 26,000 first-time buyers. Those paying £500,000 to £625,000 — an average price in London — will be hit hardest by the delay with £11,250 in additional tax, ...