Stamp Duty Takings up £1bn in a Year

A study by Lloyds reports that homebuyers paid nearly £1bn more in stamp duty last year than the year before as house prices climbed.

The report suggests that a typical family will spend £12,000 on the tax over their lifetime – rising to nearly £40,000 for Londoners.

Experts say it is yet more evidence the tax is “distorting” the housing market and preventing people from buying and selling homes, explaining that buyers must budget for ever increasing duty bills while sellers stay put to avoid paying the tax on their next purchase.

Over the last year, the Lloyds report estimates, homebuyers in England and Wales spent £5.6bn on stamp duty.

Sources: The Times, The Daily Telegraph, Daily Mail, Daily Express

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

ENQUIRY FORM

By submitting this form, the data provided will be used to perform your request according to our privacy policy.