Homebuyers paid £14.1bn in stamp obligation over the previous yr, up 20% from £11.8bn within the earlier yr.
Enterprise advisors and chartered accountants Lubbock Effective warned that the tax leaves working folks ‘caught’ of their present houses – unable to relocate to a greater job due to the price of stamp obligation.
Tax charges rose from April 1 2025, with the brink halving from £250,000 to £125,000, drawing extra householders into the tax web.
Andrew Noton, accomplice at Lubbock Effective, mentioned: “The Chancellor slashed the stamp obligation allowance within the newest Funds – this has dragged many extra homebuyers within the stamp obligation web.
“Only a few properties – particularly in London and the South East – are value lower than the brand new allowance. Many extra homebuyers can be paying a hefty stamp obligation sum on high of the worth of their new property.
“Including such a big further price to a home buy will deter folks from transferring. This can be a tax on labour mobility which makes it tougher to relocate nearer to new profession alternatives.”
Noton explains that home transferring helps drive financial exercise in native areas by creating work for native tradespeople {and professional} providers.
