Stamp obligation receipts rose by 22% to £14.6 billion up to now 12 months, HMRC information exhibits.
This represents a rise from £12bn final 12 months, and displays how traders now should pay a 5% surcharge on extra properties, up from 3% following final 12 months’s Autumn Funds
Louis Alexander chief govt of specialist lender Somo, stated: “Landlords and traders are actually contributing much more to stamp obligation than earlier than.
“With one other Funds solely weeks away, there’s actual uncertainty about what comes subsequent.”
The federal government is contemplating reforming the system with recent property taxes in accordance with experiences.
One such thought is changing stamp obligation with an annual property tax charged on properties value over £500,000, fairly than paid upfront at buy.
Capital achieve exemptions may be launched on the sale of high-value properties, which would go away traders dealing with giant tax payments when disposing of property.
Alexander added: “Uncertainty over stamp obligation dangers paralysing funding.”
