The Treasury received £944m in Stamp Duty revenue in the first month of 2022, a 46% decrease on December 2021 (£1.7bn) but 21% higher than pre-pandemic levels in January 2020 (£777m), according to analysis of HMRC receipts by Coventry Building Society.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “2021 was a record year for the Treasury, with the highest ever Stamp Duty receipts in a calendar year.
“And it’s no surprise that this tax revenue stream remains strong in 2022, particularly with house prices continuing to rise and demand staying strong amid the ‘race for space’ created by home owners’ changing requirements.
“After a record year in 2021, we expect Stamp Duty receipts will return to the long term trend of steady increases over time in the coming months.
“And, with average house prices still on the rise, the Treasury will continue to bring in billions, adding substantially to the cost of moving home.”
