The increased stamp duty on high-end properties is costing the Treasury up to £500m a year as fewer such homes are sold, according to the latest analysis.
In the nine months to November, the Treasury received £749m in tax on homes valued at more than £1.5m, down from £1.08bn, according to calculations by Paul Nash, a partner at PwC.
The Treasury questioned the methodology used, and said the reduction in the number of transactions likely reflected wider issues affecting housing.
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