Here’s a mini-series of facts. This, the first, is a recent analysis by Savills Estate Agents of HM Revenue & Customs 2011-12 stamp duty land tax data, which finds that just five London Boroughs account for 20% of stamp duty. Here’s the synopsis,
“Owners of the most expensive homes in Britain paid the lion’s share of the £4.22 billion raised in stamp duty land tax last year, according to a leading estate agent. Savills said that the analysis … demonstrated the significant contribution made by the wealthiest homeowners, despite the popular opinion that most avoided paying tax when buying homes.”
“Five boroughs, Westminster, Kensington & Chelsea, Wandsworth, Hammersmith & Fulham accounted for 20% (£828m), which was equal to the combined total raised in Northern Ireland, Scotland, the North of England, the Midlands and Wales. Outside of the Capital, Elmbridge in Surrey generated stamp duty of £56m.”
Sources: The Times October 12th: and IDOX summaries of Local Government news
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