Stamp duty revenue in England down 10% on a year ago

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AtW replied

21 November 2018, 20:54
Originally posted by b0redom View Post

Not really massively surprising. I've got a chunk of cash that I would have stuck in a B2L, but the extra stamp duty for 2nd properties has made me think twice. Wonder how many people are in the same position.

The upcoming Old Labour Govt will solve your dilemma - by relieving you from that chunk of cash...
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b0redom replied

21 November 2018, 20:45
Not really massively surprising. I've got a chunk of cash that I would have stuck in a B2L, but the extra stamp duty for 2nd properties has made me think twice. Wonder how many people are in the same position.
Leave a comment:
AtW started a topic Stamp duty revenue in England down 10% on a year ago

21 November 2018, 20:29
Stamp duty revenue in England down 10% on a year ago

Government revenue from stamp duty on property sales fell by a tenth in the third quarter of 2018 compared with the same period last year, with the Treasury’s coffers now likely to fall more than £1bn short of earlier forecasts.

Behind the fall lies a big reduction in stamp duty for first-time buyers, introduced in November 2017, and a moribund Brexit-hit London market, where estate agents say high taxes have “suffocated” the market.

HM Revenue and Customs said total revenue from residential property sales was £2.347bn in the third quarter of 2018, compared with £2.605bn in the same period of 2017. The number of properties sold that paid stamp duty also plummeted from 302,700 to 279,500, though this was partly because of devolution of stamp duty to Wales in April.

The figures represent are a significant reversal after years in which stamp duty receipts poured into the Treasury. Since 2008-09, when the the property market was in the grip of the financial crash, revenue from stamp duty on residential properties has more than tripled from £2.9bn to £9.3bn.

Stamp duty revenue in England down 10% on a year ago | Money | The Guardian

Tory Crap-Deal Brexit DOOM!!!
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