Research released by FPD Savilles, reported in industry newspaper Financial Adviser, has found that taxation raised by Government from housing reached around £4.5bn last year. This represents around 3% of total income.
The combination of stamp duty (raising around £3.4bn), inheritance tax £900m and capital gains tax (£175m) means that the Government are making huge sums from the property market and the greatest share (over 35 X Fold ) is stamp duty.
Our view
Is it any wonder that Mr Chancellor has not really made major moves to either
1) cool the housing market down or
2) reduce stamp duty when people sell!
Stealth taxes again. Are you really surprised?