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Wednesday, May 25, 2016

HMRC rake in record monthly Stamp Duty

hmrc tax manIronically, HMRC have admitted the BTL surge to beat the introduction of the Stamp Duty surcharge on second homes lead to them taking their highest  monthly Stamp Duty Land Tax (‘SDLT’) revenue.

£1.2bn was gathered via SDLT in March, with market activity swelled by a surge of property purchases by BTL investors.

A total of 173,430 property purchases were made during March.

Now with April's sales  reportedly down considerably, it will be interesting to see if the additional 3% landlord stamp duty surcharge  will sustain Her Majesty's hungry purse.

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