Stamp duty revenues hit £10bn

HMRC has raised £10 billion through stamp duty on property transactions in the year to the start of July.

This includes commercial property too but the surge in revenue to the Exchequer is largely down to sharply rising transaction volumes and prices on residential properties in many areas of the country.

This total means more stamp duty has been paid on property in the past 12 months than in any comparable period since the start of the downturn in 2007/8, when a roughly similar amount was collected.