{"id":1527,"date":"2016-10-04T09:19:51","date_gmt":"2016-10-04T09:19:51","guid":{"rendered":"http:\/\/www.bainesjewitt.co.uk\/blog\/?p=1527"},"modified":"2016-10-04T09:19:51","modified_gmt":"2016-10-04T09:19:51","slug":"decrease-in-sdlt-revenues-says-hmrc-data","status":"publish","type":"post","link":"https:\/\/www.bainesjewitt.co.uk\/blog\/decrease-in-sdlt-revenues-says-hmrc-data\/","title":{"rendered":"Decrease in SDLT revenues, says HMRC data"},"content":{"rendered":"<p>Following ongoing property market reforms, HM Revenue &amp; Customs (HMRC) has reported a 2.5 per cent decrease in Stamp Duty Land Tax (SDLT) revenues \u2013 which fell to \u00a37.3billion in the 2015\/16 financial year, according to reports.<!--more--><\/p>\n<p>Uncertainties surrounding the European Union (EU) Referendum and a slowdown in buy-to-let activity following a three per cent SDLT surcharge imposed upon second home purchases in April are thought to have had an adverse effect on property transactions.<\/p>\n<p>According to HMRC\u2019s data, half of all SDLT revenues for the 2015\/16 financial year were generated from properties purchased for \u00a31million or more.<\/p>\n<p>Furthermore, up to a quarter of all SDLT revenues came from transactions valued at \u00a35m or more, HMRC\u2019s data suggests.<\/p>\n<p>46 per cent of all SDLT receipts were generated by transactions in the City of London, where property values have risen sharply in recent years \u2013 with a single borough (Kensington and Chelsea) contributing to 7 per cent of all SDLT takings.<\/p>\n<p>The news comes after former Chancellor George Osborne increased tax on such higher value properties in December 2014.<\/p>\n<p>However, the number of both residential and non-residential property transactions where the value of property was \u00a3250,000 or less has fallen from 81 per cent in 2006\/7 to sit at just 65 per cent in 2015\/16.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following ongoing property market reforms, HM Revenue &amp; Customs (HMRC) has reported a 2.5 per cent decrease in Stamp Duty Land Tax (SDLT) revenues \u2013 which fell to \u00a37.3billion in the 2015\/16 financial year, according to reports.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1527"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1527"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1527\/revisions"}],"predecessor-version":[{"id":1528,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1527\/revisions\/1528"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}