1 in 20 UK homes changed hands in the last 12 months!

by Property118.com News Team

13:21 PM, 25th June 2014
About 5 years ago

1 in 20 UK homes changed hands in the last 12 months!

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1 in 20 UK homes changed hands in the last 12 months!

The latest HMRC tax statistics show that more than one million properties in the UK has changed hands during the last year. 1 in 20 UK homes changed hands in the last 12 months

The monthly property statistics released yesterday shows that there were a total of 1,165,880 property transactions in the UK in the year to May 31st 2014.

The 2011 Census showed there were 23.4 million homes in the UK, which meant around 5% of all properties have changed hands in the last year. Therefore, one in every twenty houses on a street would have a ‘for sale/sold’ sign.”

Based on these latest statistics, Stamp Duty Land Tax receipts for the year to 30th June 2014 are likely to exceed £10 billion.



Comments

13:34 PM, 25th June 2014
About 5 years ago

Yes, and HMRC will be using Land Registry data such as this to track down landlords who have sold rental properties - both for capital gains and rental income!

HMRC really are on the warpath against landlords - the "Let Property" campaign has been extended by 4 years today - so if your tax affairs are not in order, then now is the time to come forward and get yourself sorted out.

The penalties are very harsh and getting harsher.


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