HL Deb 19 January 2005 vol 668 cc111-2WA
Lord Oakeshott of Seagrove Bay

asked Her Majesty's Government:

In relation to the estimated overall shortfalls in stamp duty receipts of £0.6 billion in 2004–05 and £0.9 billion in 2005–06 set out in Table B12 of the Pre-Budget Report, what is the breakdown of those (shortfalls between)

  1. (a) stamp duty receipts on residential property transactions;
  2. (b) stamp duty receipts on commercial property transactions; and
  3. (c) stamp duty receipts on transactions in shares.[HL740]

Lord McIntosh of Haringey

The following table gives the differences between the Budget 2004 and Pre Budget 2004 forecasts for stamp taxes receipts:

£billion
Stamp Taxes on: 2004–05 2005–06
Land and Property (Stamp Duty Land Tax) 0.0 -0.3
Shares -0.6 -0.6
Total -0.6 -0.9

No reliable further breakdown of the land and property forecast is available.

Lord Oakeshott of Seagrove Bay

asked Her Majesty's Government;

In relation to paragraph 55 of Annexe B of the Pre-Budget Report, what were the total stamp duty receipts from residential property transactions in the first seven months of 2004–05; on what total number of residential property transactions these receipts were based; and what were the comparable figures for the first seven months of 2003–04.[HL741]

Lord McIntosh of Haringey

The table below gives an estimate of the number of UK property transactions and an estimate of UK receipts from stamp duty on land and property transactions between April and October 2003 and between April and October 2004.

Number of transactions(millions) Stamp duty receipts on land and property(£bn)
April—October 2003 0.9 2.8
April—October 2004 1.2 3.9

No reliable further breakdown of the land and property receipts is currently available for either period.