Stamp Duty Land Tax (SDLT) is levied on properties bought over the threshold of 125,000 British pounds. The tax is implemented on all residential transactions, unless they are a first-time homebuyer and therefore can claim a form of discount. The total value of stamp duty land tax receipts in the fiscal year 2022/23 came to approximately 4.6 billion British pounds.
One of the measures introduced as a response to the coronavirus (COVID-19) pandemic was a temporary reduction in the rates of the stamp duty land tax. The stamp duty holiday applied to purchases made between July 2020 and June 2021 with property value of up to 500,000 British pounds.
Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23
(in million GBP)
* The source added the following information "The method used to estimate property values means that subtotals may not sum to the overall total. SDLT transactions at £40,000 or above."
** SDLT ceased being charged in Scotland from April 2015.
*** Provisional figures. 2016/2017 and 2018/2019 An improved methodology for receipts has been implemented from 2017-18 onwards. Figures are not directly comparable to previous years. For further information please refer to the Methodology Quality Report.
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HM Revenue and Customs. (December 7, 2023). Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23 (in million GBP) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/
HM Revenue and Customs. "Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23 (in million GBP)." Chart. December 7, 2023. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/
HM Revenue and Customs. (2023). Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23 (in million GBP). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/
HM Revenue and Customs. "Value of Stamp Duty Land Tax Receipts for Residential Properties in London (Uk) from Fiscal Year 2000/01 to Fiscal Year 2022/23 (in Million Gbp)." Statista, Statista Inc., 7 Dec 2023, https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/
HM Revenue and Customs, Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23 (in million GBP) Statista, https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/ (last visited November 21, 2024)
Value of stamp duty land tax receipts for residential properties in London (UK) from fiscal year 2000/01 to fiscal year 2022/23 (in million GBP) [Graph], HM Revenue and Customs, December 7, 2023. [Online]. Available: https://www.statista.com/statistics/1029657/stamp-duty-land-tax-united-kingdom-hmrc-tax-receipts/