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Stamp Duty Land Tax

Volume 504: debated on Tuesday 26 January 2010

To ask the Chancellor of the Exchequer what estimate he has made of the cost to the Exchequer of the stamp duty holiday; and how many property transactions did not attract stamp duty during the holiday which would have done so outside the holiday period in (a) each government office region in England, (b) Wales, (c) Scotland and (d) Northern Ireland. (311705)

The estimated cost of the stamp duty land tax holiday in 2008-09 and 2009-10 up to 3 September 2009, the original date for the end of the holiday, was published in the 2008 pre-Budget report, available at:

http://www.hm-treasury.gov.uk/d/pbr08_annexb_262.pdf

A revised estimate for the cost of the stamp duty land tax holiday in 2009-10, to 3 September 2009, was published in table A2 of Budget 2009 available at:

http://www.hm-treasury.gov.uk/d/Budget2009/bud09_chaptera_307.pdf

The cost of extending the holiday to 31 December 2009 was also published in table A1 of Budget 2009 available at:

http://www.hm-treasury.gov.uk/d/Budget2009/bud09_chaptera_307.pdf

Estimated numbers of transactions falling in the price range between £125,000 and £175,000 which would have attracted stamp duty land tax without the holiday relief, in the period between 3 September 2008 and the end of December 2009, are given in the following table:

Number of transactions in each region sold for between £125,000 and £175,000 in the period from September 2008 to December 2009 inclusive.

Region

Number

North West

20,600

North East

6,900

Yorkshire and The Humber

18,200

East of England

31,800

South East

42,400

South West

32,900

London

15,600

East Midlands

20,000

West Midlands

18,700

Scotland

20,700

Wales

8,600

Northern Ireland

4,700

Unallocated to region

8,900