Written question asked by Lord Flight (Conservative) on Monday, 17 July 2017, in the House of Lords. It was due for an answer on Monday, 31 July 2017. It was answered by Lord Bates (Conservative) on Monday, 24 July 2017 on behalf of the Treasury.

Stamp Duty Land Tax

Question: Her Majesty's Government what assessment they have made of the impact of the stamp duty levy on investment in new homes available for rent.

Answer

The Government introduced the higher rates of stamp duty on additional properties to support home ownership and first-time buyers. It is right that people should be free to purchase a second home or invest in a buy-to-let property, but the Government is aware that this can impact on other people’s ability to get on to the property ladder.

The latest estimate for this measure’s receipts for 2016-17 is £1.6 billion, compared to an initial forecast of £0.7 billion.

Secondary information

Type: Written question
Reference: HL869
Session: 2017-19
Subjects: Rented housing Stamp duty land tax
Link: View this Written question on www.parliament.uk

Stamp Duty Land Tax

Secondary information

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