Treasury coffers have netted close to £9.3 billion in SDLT (Stamp Duty Land Tax) receipts on 1.1 million residential transactions across the UK in 2017–18.
While sales volumes rose by just 1% over this last year, residential tax receipts rose by 8%. The mean amount of SDLT paid per residential transaction was £8,700.
Over a quarter of a million (252,000) properties were purchased as additional dwellings in 2017-2018, up 9% on 2016/17 and these accounted for 44% of all residential SDLT receipts. The 3% element alone has netted the government just shy of £1.9 billion.
Although sales volumes across London, the South East and East of England fell, residential stamp duty intake in all regions increased. London accounts for 39% of all residential SDLT receipts, with Westminster and the Royal Borough of Kensington and Chelsea contributing just over £1 billion between them.