First-time buyer relief pushes number of transactions paying Stamp Duty to four-year low
Only two-thirds of residential transactions were liable for Stamp Duty during 2018, the taxman has revealed.
Stamp Duty receipts data from HMRC shows there were 189,800 transactions that had to pay the property tax in the fourth quarter of 2018, down 17% annually.
HMRC said this meant that only two-thirds of residential transactions have been liable for Stamp Duty since the first quarter of 2018, the lowest proportion it has been since the first three months of 2014.
Much of this is down to the first-time buyer Stamp Duty exemption introduced in November 2017, which was used on 60,700 transactions in the final three months of 2018, taking the total to 241,300, which is worth £570m of relief.
Source: Property Industry Eye
See the link below for the full article:
For more information, please contact the Dore office on firstname.lastname@example.org