Stamp duty fills treasury coffers
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.