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.
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.
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Comments: 226
1:34 PM, 25th June 2014, About 12 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.