Thursday, May 24, 2012
Analysis of latest figures shows the Government received £5,960m
from Stamp Duty Land Tax (SDLT) in 2010/11; a 22% increase 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 (which was static at £40m), at
a time when there was almost half the number of property
transactions as pre-recession.
The highest increase was in the East Midlands, at 33.3% (to
£240m) followed by 32% in Scotland (to £330m) and 27.7% in London
(to £1,980m).
These figures cover the period before the end to the SDLT
holiday for First Time Buyers.
Wendy Evans-Scott, President of the National Association of
Estate Agents, said: "The Government's latest figures show it
has received a windfall of £1bn on property transactions in the UK,
at the same time as thousands of consumers are struggling to afford
even the deposit for a home.
"Clearly, the Chancellor can afford to reinstate the
First-Time Buyer 'holiday' and help boost this vital part of the
market, instead of taking the 22% increase in income from this
unfair tax.
"The fact that SDLT is fluctuating regardless of the
movement in the housing market shows it is an outdated tax that
needs urgent reform."
|
Stamp Duty Receipts by Region
|
|
|
| |
|
|
|
|
2009-2010 (£million)
|
2010-2011
(£million)
|
% difference
|
|
North East
|
85
|
90
|
5.9
|
|
North West
|
265
|
295
|
11.3
|
|
Yorkshire & The Humber
|
195
|
230
|
17.9
|
|
East Midlands
|
180
|
240
|
33.3
|
|
West Midlands
|
235
|
280
|
19.1
|
|
East
|
490
|
560
|
14.3
|
|
London
|
1550
|
1980
|
27.7
|
|
South East
|
1030
|
1210
|
17.5
|
|
South West
|
465
|
525
|
12.9
|
|
|
|
|
|
|
England Total
|
4495
|
5410
|
20.4
|
|
|
|
|
|
|
Wales
|
100
|
115
|
15.0
|
|
Scotland
|
250
|
330
|
32.0
|
|
Northern Ireland
|
40
|
40
|
0.0
|
|
|
|
|
|
|
UK TOTAL
|
4885
|
5960
|
|
| |
|
|
|
| |
|
|
Data on property transactions available at:
http://www.hmrc.gov.uk/stats/survey_of_prop/val-40000-or-above.pdf