Residential stamp duty revenues up 40%

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Stamp duty revenue from residential property sales has risen 40% in 2006/07, according to figures from HM Revenue and Customs.

The figures also show revenues from residential stamp duty have grown by 140% over the past five years, to 6.4bn in 2006/07. Much of the rise in numbers is due to more homes falling into higher stamp duty brackets, homes worth more than £250,000, according to the Halifax. The figures show 61% of stamp duty revenue came from higher bands of the tax in 2001/02, compared with 81% in 2006/07. London and the South of England contributed almost three quarters of all residential stamp duty revenue, a total of £4.7bn, including £1.7bn from London. The Capital contributed 27% of all revenue in t...

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