London generates nearly half of stamp duty revenues

7th August 2015

Nearly half of all stamp duty revenue raised in England and Wales is generated through property sales in London, according to data showing the impact of last year’s reforms. Research by Knight Frank has shown London accounted for 13% of all property transactions in England and Wales in the first three months of this year, yet contributed 46.9% of total stamp duty revenues. Prior to the introduction of stamp duty reforms in the Autumn Statement, London sales accounted for 43% of total revenues. At the same time, the data show that homes valued at £1m or more contributed 34% of all stamp duty receipts, compared to 26% a year previously.

Financial Times