§ Mr. WillettsTo ask the Chancellor of the Exchequer (1) what has been the cost to the Exchequer of providing stamp duty relief to residential properties under the value of £150,000 in deprived areas in each month since November 2001; [185711]
(2) how many property transactions have taken place paying stamp duty at 0 per cent. for (a) residential properties in deprived areas and (b) non-residential properties in deprived areas in the Havant constituency in each month since November 2001; [185712]
(3) what the total number is of property transactions which have taken place at the zero rate of stamp duty in deprived areas since it was introduced; how many have taken place in those areas bearing stamp duty; and how many property transactions bearing stamp duty have taken place in the UK in the same period; [185713]
(4) how many property transactions have taken place paying stamp duty at 0 per cent. for (a) residential properties in deprived areas and (b) non-residential properties in deprived areas (i) in each month since November 2001 and (ii) in total. [185714]
§ Ruth KellyThe cost to the Exchequer of stamp duty relief on residential properties in the qualifying disadvantaged areas is given in the following table for each month since November 2001. The number of residential transactions in qualifying disadvantaged areas which received the relief is also shown in the table together with the number of non residential transactions receiving the relief in these areas. The information has been given for Great Britain as information for Northern Ireland is not readily available on a monthly basis for the whole period.
Information is not reliable enough to be given at the parliamentary constituency level for every month since inception.
Information is only available since inception of the relief for numbers of transactions in disadvantaged areas which would otherwise pay stamp duty but do not do so because of the relief. Counts of transactions in qualifying 487W disadvantaged areas since inception are not available for transactions below the liability threshold or above the threshold at which the relief ceases to apply.
There were 3.0 million transactions between inception of the relief and June 2004 in the UK whose value was above the appropriate stamp duty threshold and which did not benefit from Disadvantaged Areas Relief.
Number of residential transactions receiving Disadvantaged Area Relief in Great Britain (thousand)1 Number of non transactions receiving Disadvantaged Area Relief in Great Britain (thousand)1 Cost to the Exchequer of providing Disadvantaged Area Relief in Great Britain (£ million)1 2001 November 0.7 <0.1 1 December 3.5 <0.1 <3 2002 January 3.0 <0.1 3 February 3.1 <0.1 3 March 4.4 <0.1 4 April 4.2 <0.1 4 May 5.8 <0.1 5 June 5.0 <0.1 5 July 5.7 <0.1 5 August 5.7 <0.1 5 September 5.2 <0.1 5 October 5.5 <0.1 5 November 6.4 <0.1 6 December 5.8 <0.1 5 2003 January 4.7 <0.1 4 February 5.0 0.1 5 March 5.8 0.2 5 April 6.2 0.4 6 May 7.0 0.6 7 June 7.4 0.7 7 July 7.6 0.6 7 August 7.9 0.6 7 September 6.2 0.6 6 October 5.2 0.6 5 November 4.8 0.6 5 December2 2.5 0.1 2 2004 January2 8.0 0.6 7 February2 8.2 0.5 7 March2 8.5 0.5 7 April2 9.8 0.8 9 May2 10.3 0.7 9 June2 11.7 0.7 10 1Counts to the end of November 2003 are based on the date of completion of the transaction. Counts from 1 December 2003 are based on the date the transaction was received at the office set up for processing the transactions. 2Because of the change to the new data collection and processing system as a result of the introduction of Stamp Duty Land Tax, care should be taken in interpreting monthly movements since December.