Stamp Duty Land Tax Boosts Tax Receipts

The UK government is on track to raise a record amount of tax from property sales, despite a fall in the number of home sales. Official figures show that £7.7bn has been raised from stamp duty land tax (SDLT) during the first eight months of the 2016-17 financial year. That is 12% more than was raised during the same period the year before. But this has come despite a 10% drop in the number of homes being sold in the UK. Between April and November this year, 782,000 homes were sold, down from the 868,000 sold in the same eight months of the previous financial year. Read more on the BBC website.