Stamp duty payments top £1bn in February

Homebuyers paid £1.1bn in stamp duty in February, a 24% increase from January's £848m, according to Coventry Building Society's analysis of HMRC data. The surge is attributed to buyers rushing to complete purchases before the stamp duty threshold drops from £250,000 to £125,000 on 1 April. This will see the tax bill on the average-priced home in England increase from £2,028 to £4,528. Jonathan Stinton, head of mortgage relations at Coventry Building Society, said: "Those who can't get the keys to their new house in the next ten days need to brace themselves for a hit, potentially amounting to thousands of pounds." 

The Guardian (22/03/2025)