Stamp duty revenue in England down 10% on a year ago

Third-quarter fall follows years of rising receipts, with thresholds and Brexit blamed

Government revenue from stamp duty on property sales fell by a tenth in the third quarter of 2018 compared with the same period last year, with the Treasury’s coffers now likely to fall more than £1bn short of earlier forecasts.

Behind the fall lie big reductions in stamp duty for first-time buyers, introduced in November 2017, and a moribund Brexit-hit London market, where estate agents say high taxes have “suffocated” the market.

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