Stamp Duty

Treasury written question – answered on 26th June 2006.

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Photo of David Ruffley David Ruffley Shadow Minister (Work and Pensions)

To ask the Chancellor of the Exchequer how many properties sold in (a) Bury St. Edmunds constituency and (b) the Suffolk county council area in each of the last three years attracted stamp duty at (i) zero per cent., (ii) 1 per cent., (iii) 3 per cent. and (iv) 4 per cent.

Photo of Edward Balls Edward Balls The Economic Secretary to the Treasury

Estimates of the number of property transactions for parliamentary constituencies and counties are only available for 2004-05 and 2005-06, and are given in the following table for Bury St. Edmunds and Suffolk, grouped by stamp duty band.

Property transactions attracting:
0 per cent. rate 1 per cent. rate 3 per cent. rate 4 per cent. rate Total
Bury St. Edmunds
2004-05 430 2,200 420 50 3,140
2005-06 1,300 2,200 510 90 4,100
Suffolk
2004-05 3,500 14,000 2,100 500 20,100
2005-06 8,600 10,500 2,400 420 21,900

The number of transactions bearing stamp duty will be lower than the number shown in the non-zero bands due to the use of various reliefs, e.g. disadvantaged area relief, group relief, registered social landlord relief etc. There are also some lease transactions which fall in the 0 per cent. band on account of consideration, but which bear stamp duty on the lease rental.

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