Figures released by HMRC reveal a £3.4 billion rise in stamp taxes this year, with receipts totalling £18.3 billion between April 2024 and March 2025.
The rush to complete before the SLDT deadline saw a two thirds year-on-year increase in March receipts from £864 million in 2024 to £1.4 billion in 2025.
HMRC said of the higher revenue, which excludes land transaction taxes devolved to Scotland and Wales:
“Higher receipts in February to March 2025 compared to previous years are driven by a combination of increased transaction levels prior to the change to residential Stamp Duty Land Tax thresholds from April 2025 and higher rates of Stamp Duty Land Tax surcharge for additional properties.”
Despite the March rush, the peak month for stamp revenue was December, with a total of £1.5 billion.
HMRC explained:
“Higher receipts in October to December 2024 compared to the year before are driven by the increase to the higher rates of Stamp Duty Land Tax surcharge (Higher Rates for Additional Dwellings) on 31 October 2024 and increased transaction levels.”
The total gross HMRC Tax and NICs receipts for April 2024 to March 2025 were £857 billion, £28.1 billion higher than the same period last year.
Meanwhile Inheritance Tax receipts for April 2024 to March 2025 were £8.2 billion, £0.8 billion higher than the same period last year.
