£1Billion missing revenue from Stamp Duty

More negative news in UK property and this time a £1,000,000,000 missing pot of cash thanks to the Governments handling of Stamp Duty. Not so much in favour has been the hiked up tax imposed on high end value property which has seen a fair slow down in this section of the market, a whooping 10% has seemed to have kept the buyers away:

£0 – £125,000 – 0% Stamp Duty

£125,001 – £250,000 – 2% Stamp Duty

£250,001 – £925,000 – 5% Stamp Duty

£925,001 – £1,500,000 – 10% Stamp Duty

Of course, many will argue that those at the top end of the property market can certainly afford to pay out such high amounts of tax and many will have made quite a packet from recent years of house price inflation anyway, though this thought process has not worked that well for the government and this ten figure number is missing from the Treasury due to George Osbourne’s stamp duty hikes of four years ago.

I agree with the higher tax that was posed on buy to let property, a 3 per cent surcharge on second homes to discourage landlords, though in all honesty this could be extended further and if scaled, ie this tax amount raises as your portfolio increases, we would have a very simple solution in solving much of the housing crisis and the over valued property across the country than we have – a flood of property on to the market held by investors / landlords would see movement in property value, ie down, and increased people being able to get on to the property ladder. Yes for sure there are many people that do not want to own a property and may still struggle to afford a home of their own so landlords (because council property has suffered in recent years) are still needed.

Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

small house bird box
Breaking News

UK First Time Buyers better off than many other global nations

Is it really that bad being a first-time buyer? UK better off than many other global nations when it comes to affordability The latest market analysis from Yopa, the full-service estate agents, reveals that first-time buyers (FTBs) in the UK may be paying 63% more to get a foot on the property ladder than they…
Read More
new build homes colchester essex
Breaking News

Building Safety Regulator Reform

The Government has announced reforms to the Building Safety Regulator, including leadership, process and investment. The changes are hoped to deliver 1.5 million homes. The reforms pave the way for creation of a single construction safety regulator, as recommended by the Grenfell Tower enquiry. David Smith, property litigation partner at London law firm Spector Constant…
Read More
Breaking News

New anti-money laundering rules now in effect: what landlords need to know

New anti-money laundering (AML) rules came into effect this month, marking a significant change for landlords and the lettings industry as a whole. The new rules mean financial sanctions checks are now required for all lettings, regardless of how much rent is charged. Here, Steve Bond, managing director of residential lettings for Beresfords, explains what…
Read More
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More
Breaking News

Mortgage approvals bounce back in May

The latest figures show that: – Mortgage approvals on house purchases for May sat at 63,032 up 3.9% from 60,656 in April. The monthly increase seen in May marks the end of four months of previous decline, with approval levels having fallen each month since January of this year. Approvals are also 2.5% higher than…
Read More
Breaking News

Money and Credit – May 2025

Key points: Net borrowing of mortgage debt by individuals increased by £2.8 billion to £2.1 billion in May, following a large decrease in net borrowing of £13.8 billion to -£0.8 billion in April. Net mortgage approvals for house purchases increased by 2,400 to 63,000 in May. Approvals for remortgaging also increased by 6,200 to 41,500…
Read More