Agents want stamp duty break back
THE National Association of Estate Agents has called for the stamp duty break for first-time buyers to be reinstated.
The NAEA has upped the ante in its campaign for reform of the current stamp duty regime after discovering that it netted £5,960m for the Treasury coffers in 2010/11.
This was a 22 per cent increase, up from £4,885m in 2009/10, despite an ailing property market.
The figures show SDLT receipt rose last year in all regions of the UK, apart from Northern Ireland, at a time when there was almost half the number of property transactions as pre-recession.
The highest increase in the revenue made from Stamp Duty was in the East Midlands, at 33.3 per cent (to £240m) followed by 32 per cent in Scotland.