Stamp Duty receipts for the year to the end of February fell just six per cent despite the high profile SDLT holiday running from early July.
Data from the HMRC Tax Receipts and National Insurance Contributions division show stamp duty receipts at £775m last month, £49m less than February 2020 when the figure was £824m.
HMRC is now on course to recoup £8.2 billion in stamp duty this tax year, despite the holiday on duty payable on most properties selling up to £500,000.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, says: “The stamp duty holiday has really helped to fuel the market over the past few months. However, the average home buyer isn’t going to have contributed one penny in stamp duty.
“These numbers are a sign of a healthy market across the board where higher value homes, second homes and rental properties [none of which would have benefitted entirely from the stamp duty holiday] are also exchanging hands.”
Another HMRC study released last month says stamp duty receipts in the final quarter of 2020 were 47 per cent higher than the previous quarter, but 16 per cent lower than the fourth quarter of 2019.
The Revenue said: “The change in receipts will have mainly been impacted by the introduction of the stamp duty holiday.”
If you’re worried the stamp duty holiday is denying the Treasury...
National estate agency Jackson-Stops claims that the 3% stamp duty surcharge...
A leading analyst is questioning whether buyers have benefitted from the...
The former Chancellor George Osborne - architect of drastic stamp duty...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
In today's rapidly evolving property market, the focus on reducing transaction...
.png)
An exciting new collaboration between TVPN, EstateApps and Paul Long is...
By Mike Bilboe, Face For Business Buying or selling a home can...
LSL Estate Agency Franchising is home to one of the UK’s...
.png)
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment