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The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Average Stamp Duty Land Tax take rises to £8,400 per transaction

Stamp Duty Land Tax receipts rose by 10% in the last financial year, 2017/2018. HMRC has reported that £12.9bn was raised, with 97.3% coming from transactions in England, with Wales and Northern Ireland contributing just 2% and 0.7% respectively (Scotland has its own devolved system).

Within England, transactions in London contributed £4.86bn, or 39% of total receipts. Generally, properties over £1m accounted for only 3% of transactions but 44% of total SDLT receipts during the year.

The lion’s share of receipts from SDLT – £9.28bn – came from residential transactions, and HMRC reported that there was around 1.1m of these. The balance was from non-residential transactions.

The mean amount of SDLT per residential transaction rose by 7% to £8,400. There were 69,100 transactions where first-time buyers’ relief was claimed, totalling an exemption of about £160m. The first-time buyers’ relief was introduced last November.

During 2017/2018 there were 252,000 additional dwellings transactions, bringing in higher SDLT receipts of just over £4bn. Of this total, £1.9bn worth of receipts came from the 3% SDLT surcharge. Additional dwelling transactions accounted for 23% of residential transactions and 44% of residential receipts.

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