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Stamp duty land tax boosts tax receipts
Stamp duty land tax boosts tax receipts
This is a duplicate of the Blog Entry made on: 23rd December 2016 09:21
This is a duplicate of the Blog Entry made on: 23rd December 2016 09:21
The UK government is on track to raise a record amount of tax from property sales, despite a fall in the number of home sales. Official figures show that £7.7bn has been raised from stamp duty land tax (SDLT) during the first eight months of the 2016-17 financial year. That is 12% more than was raised during the same period the year before. But this has come despite a 10% drop in the number of homes being sold in the UK. Between April and November this year, 782,000 homes were sold, down from the 868,000 sold in the same eight months of the previous financial year. Even if that trend continues, the exchequer's revenue from stamp duty may still exceed the previous record of £10.7bn raised during 2015-16.....Source: Read here