Property News · November 21, 2018

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


Third-quarter fall follows years of rising receipts, with thresholds and Brexit blamed 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. Continue reading…

Source : theguardian.com
Read more…Stamp duty revenue in England down 10% on a year ago

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