§ Mr. Nicholas WintertonTo ask the Chancellor of the Exchequer what has been the total revenue from stamp duty upon the purchase of houses in each of the last 24 months for which figures are available; and what was the average stamp duty liability per transaction in each of those months.
§ Mr. DorrellThe available information relates to all transactions of land and property, other than shares, liable to stamp duty and is given in the table. The figures include new leases. Part of the duty on such leases depends on the length of the lease and is not affected by changes in the stamp duty threshold. New leases therefore accounted for a much higher proportion of all transactions liable to stamp duty over the period 20 December 1991 to 19 August 1992 when the threshold was temporarily raised to £250,000. This affects the figures on average stamp duty per transaction.
506W
Stamp duty on land and property 1991 Receipts Average duty per transaction £million £ January 90.5 810 February 61.1 770 March 70.3 870 April 79.5 810 May 69.2 710 June 96.7 1,010 July 92.0 810 August 102.9 1,040 September 74.3 740 October 87.6 840 November 69.6 770 December 68.2 800 Year 961.9 830
1992 Receipts Average duty per transaction £million £ January 48.4 1,010 February 20.2 1,190 March 19.2 1,140 April 24.0 1,510 May 18.5 1,310 June 17.0 1,140 July 18.9 1,150 August 19.2 1.070 September 28.1 940 October 51.8 950 November 45.3 770 December 58.3 880 Year 368.7 1,000
1993 Average duty Receipts per transaction £million £ January 51.2 850 Notes:
1. Monthly figures for the financial year 1992–93 are provisional.
2. On average, receipts and the count of transactions in a given month relate to transactions occurring in the previous month because of time lags.