LONDON, July 7 (Reuters) - British house prices in June fell in monthly terms for the first time since January as the government prepared to scale back its tax break for home-buyers, mortgage lender Halifax said on Wednesday. House prices were 0.5% lower than in May, Halifax said. In annual terms, prices stood 8.8% higher than in June 2020 after rising by the most in 14 years in May when they rose 9.6%. Reporting by William Schomberg; editing by Michael Holden Our Standards: The Thomson Reuters Trust Principles.