The introduction of the 3% stamp duty surcharge on second homes and buy-to-let properties has generated significantly more revenue for the Treasury than had been forecast, according to analysis of data by accountants Blick Rothenberg.
The analysis shows the Treasury has received as much as £2bn extra in revenue, more than double the £625m that had been expected.
As prices continue to rise, it has become clearer that the measure has succeeded only in generating extra tax for HMRC as well as a sluggish property market, Blick Rothenberg director Robert Pullen said.
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