§ Mr. Adleyasked the Chancellor of the Exchequer what percentage of domestic property transactions were eligible for payment of stamp duty by individual purchasers in 1980; and what was the relevant percentage in 1950, 1960 and 1970.
§ Mr. Ridley:I shall let my hon. Friend have a reply as soon as possible.
§ Mr. Adleyasked the Chancellor of the Exchequer at what price level stamp duty was payable on domestic property transactions when it was first introduced; and what would be the qualifying figure now if full account were taken for inflation since the date of introduction.
§ Mr. Ridley:The stamp duty thresholds apply to transfers of all property other than stocks and shares, and transfers of residential property are not treated distinctively. Stamp duty was payable on all levels of value until August 1958 when an exemption threshold of £3,500 was introduced. The minimum chargeable value has changed several times since then. The various exemption limits, together with their current values after adjusting for inflation by reference to the most recent figures available for the movement in (a) the retail prices index and (b) the Building Societies Association's figures of average house prices, are as follows:
August 1958 3,500 21,920 36,030 August 1963 4,500 25,220 35,000 August 1967 5,500 26,710 32,720 August 1972 10,000 34,880 31,170 May 1974 15,000 41,960 34,330 May 1980 20,000 22,870 21,530