Stamp Duty

Treasury written question – answered on 2nd May 2006.

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Photo of Eric Pickles Eric Pickles Shadow Minister (Communities and Local Government), Deputy Chair, Conservative Party

To ask the Chancellor of the Exchequer

(1) what the revenue was from residential stamp duty from the (a) 3 per cent. and (b) 4 per cent. band in each year since its creation; and if he will estimate the revenue for 2006–07;

(2) how many occupiers of domestic properties paid residential stamp duty on sale at the (a) 3 per cent. and (b) 4 per cent. rate in each year since its creation; and if he will estimate the number of occupiers paying in 2006–07.

Photo of Ivan Lewis Ivan Lewis The Economic Secretary to the Treasury

Purchases of property worth more than £250,000 and up to £500,000 have borne stamp duty at 3 per cent., and those in excess of £500,000 4 per cent., since 2000–01. Estimated revenues from residential transactions fallingin those bands are available at http://www.hmrc.gov.uk/stats/stamp_duty/table15_3_october04.xls.

Estimated revenues from stamp duty on residential transactions in 2005–06 will be published in September.

Estimated numbers of transactions subject to these rates are given in the following table:

Thousand
Consideration £250,001 to £500,000 Above £500,000
Rate of stamp duty 3 per cent. 4 per cent.
2000–01 68 13
2001–02 96 17
2002–03 120 23
2003–04 135 26
2004–05 181 30

Forecasts of stamp duty revenues and numbers of residential transactions in those bands are not available.

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