The Treasury received £1.21bn in Stamp Duty revenue in November 2021, taking the total for the year so far to £11.44bn, the highest amount for the first 11 months of the year since 2017 (£11.76bn).
Stamp Duty receipts for November were just 8% down on October 2021 (£1.32bn) and 22% higher than pre-pandemic levels in November 2019 (£0.94 bn), according to analysis of HMRC receipts by Coventry Building Society.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “It’s been a big year for the Treasury’s Stamp Duty receipts, despite hundreds of thousands of buyers being exempt from paying it for the first nine months of 2021. This shows just how high the demand for higher value homes, second homes and rental properties has been this year.
“While we’re entering a quieter period for the mortgage market, we’d expect to see activity pick up fairly quickly in 2022, and without a Stamp Duty holiday in place, receipts for HMRC will undoubtedly continue to climb next year. Plus, with the Bank of England proposing to ease affordability rules in 2022, this could well push up demand, therefore increasing prices and pushing Stamp Duty receipts even higher.”
Total Stamp Duty receipts for 2020 were £8.6bn
Total Stamp Duty receipts for 2019 were £11.7bn
