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Stamp Duty receipts fall by 5% after first-time buyers’ relief

  • AKA Properties Staff
  • Jan 26, 2020
  • 1 min read

HMRC has blamed market conditions and the first full year first-time buyer Stamp Duty exemption for a fall in receipts for the property tax.


Figures from the taxman show Stamp Duty receipts fell by 5.2% annually in 2018-19 to just under £14bn.


HMRC said: “Receipts in 2016-17 increased by 10.4% due to the introduction of higher duty rates on additional dwellings in April 2016 and which continued through 2017-18.

“In November 2017, the first-time buyer’s relief came into effect.


“In 2018-19 receipts fell by a further 5.2% due to a combination of market uncertainties and a full year of first-time buyer’s relief claims.”


HMRC added that its monthly data hasn’t seen a peak in receipts since December 2016, the year that the additional Stamp Duty rate was introduced.

 
 
 

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