Stamp Duties: Tax Yields

Treasury written question – answered on 26th July 2007.

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Photo of Alistair Burt Alistair Burt Shadow Secretary of State for Communities and Local Government, Deputy Chair, Conservative Party

To ask the Chancellor of the Exchequer

(1) how much revenue was raised on stamp duty on property in 2006-07 in (a) the United Kingdom and (b) England;

(2) how much revenue was received from stamp duty on (a) residential property and (b) business property in the United Kingdom in 1996-97; and how much is expected to be received in 2007-08.

Photo of Kitty Ussher Kitty Ussher Economic Secretary, HM Treasury

Estimated stamp duty receipts for 1996-97 for the United Kingdom are given in the following table.

(£ million)
Residential 675
Non residential 383
Total 1,058

Estimated revenues for total stamp taxes in 2006-07 and projected revenues for total stamp taxes in 2007-08 were published in Table C8 of the Budget 2007 report. The breakdown between stamp taxes on land and property and stamp taxes on shares is as follows:

Stamp taxes on land and property transactions
£ billion
2006-07 9.7
2007-08 10.6

Final figures for stamp duty land tax receipts for 2006-07, including a break down between residential and non-residential, together with national and sub-national breakdowns will be published in September 2007 for 2007-08 it will be published in September 2008.

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