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Second home tax more than makes up for SDLT holiday shortfall

Taxes on second homes have more than made up for the money lost to the stamp duty holiday.

The booming market for second homes saw the tax rise to £11.4bn for the first 11 months of the year, the highest amount collected since 2017.

While the stamp duty holiday included second homes, the 3% additional home levy still applied.

According to Hamptons, more than 24,000 second homes were bought in Britain in the 12 months to 30 June.

HMRC estimates that in the financial year 2021-22 there will be 974,310 residential property sales, making it the busiest year in a decade.

The Times (£)

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