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Stamp Duty

Volume 454: debated on Monday 11 December 2006

To ask the Chancellor of the Exchequer what estimate he has made of the likely change in revenue between 2005-06 and 2006-07 as a result of stamp duty thresholds for (a) 3 per cent. duty and (b) 4 per cent. duty on residential properties remaining unchanged. (108215)

The estimated amount of stamp duty land tax for 2005-06 arising from residential transactions, by stamp duty land tax band, is given at:

http://www.hmrc.gov.uk/stats/stamp_duty/table15-3.xls

Estimates of stamp duty land tax for 2006-07, arising from residential transactions, will be published next September.

To ask the Chancellor of the Exchequer (1) what estimate he has made of the likely annual reduction in revenue that would result from a 0 per cent. stamp duty rate for zero carbon homes, based on the current numbers of zero carbon homes; (108222)

(2) for how long the time limited 0 per cent. stamp duty rate for zero carbon homes will apply.

The 2006 pre-Budget report, announced a time-limited stamp duty exemption for the vast majority of new zero carbon homes. Full details of this exemption will be published at the time of the 2007 Budget.