Daventry home buyers pay £10m in stamp duty last year
Home buyers in Daventry paid £10 million in stamp duty last year, as the property industry calls for an extension of the current holiday on the tax.
In a letter to the Chancellor, leading property organisations warned housing transactions across the country could fall of a “cliff edge”, and that the industry does not have capacity to deal with the current surge in demand.
New figures from HM Revenue and Customs show home buyers in Daventry paid around £10 million in Stamp Duty Land Tax in the year to March, with a further £5 million from non-residential properties.
Across England, residential and non-residential properties worth £406 billion changed hands last year, contributing £12 billion in stamp duty. But in July, the Treasury announced a temporary stamp duty holiday to encourage people to buy in the midst of the coronavirus pandemic.