‘Government measures to boost the housing market are set to produce billions of pounds in additional tax revenue, according to forecasts.
Analysis by Savills has calculated that the Help to Buy scheme, which is predicted to fuel an additional 400,000 transactions over the next four years, will result in an extra £1bn being collected in stamp duty.
The total amount of stamp duty paid is set to soar by 35% over the next four years from £4.9bn to £6.6bn as the housing market recovers. It has forecast that transactions would rise from 929,130 in the 12 months to April this year to 1.1m by April 2017.’
Source: The Sunday Times