Stamp duty fills trea­sury cof­fers

Yorkshire Post - Property - - PROPERTY -

STAMP duty on prop­erty pur­chases and a surge in trans­ac­tions in the sec­ond half of 2013 led to a £19.5 bil­lion in­crease in the Trea­sury’s cof­fers last year.

HMRC fig­ures show that from July to De­cem­ber there were an av­er­age of over 100,000 sales of apart­ments and houses each month. This helped take the full year to­tal to over one mil­lion trans­ac­tions.

The £19.5 bil­lion windfall in­cludes stamp duty, cor­po­ra­tion tax, in­come tax, VAT re­ceipts, Na­tional Insurance and other in­come, but a break­down shows the large con­tri­bu­tion made by Stamp Duty Land Tax on prop­erty trans­ac­tions.

This stood at around £6 bil­lion in 2011 and was to £8.586 bil­lion last year.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.