Stamp Taxes receipts for April 2025 to May 2025 were £3.2bn, which is £0.3 bn higher than the same period last year.

This is according to the latest figures from HMRC which points out that the higher receipts in April 2025 compared to April 2024, was mainly due to the decrease in thresholds for residential main rates and First Time Buyers’ Relief effective from 1 April 2025

And overall, UK homebuyers have paid £5.5bn in Stamp Duty so far this year, a 25% increase on the £4.4bn paid in the same period last year, according to Coventry Building Society’s analysis of HMRC statistics.

The tax charged on an average priced home is now £3,274, up from the £774 it would have been before the thresholds were reduced.

Coventry Building Society’s head of intermediary relationships Jonathan Stinton said homebuyers were handing over eye-watering sums in Stamp Duty. “The bill for an average priced home has more than quadrupled, and that’s on top of everything else buyers are trying to cover.

“When moving comes with thousands in tax, it can put people off making that next step – whether it’s upsizing, downsizing, or just finding a home that better suits their life. That kind of strain doesn’t just affect individual buyers, it can slow the market down for everyone.”

He added: ““When Stamp Duty was first introduced – back in 1694 – it was only meant to last four years. More than 300 years later we’re still paying it in one form or another, despite the fact the housing market has changed. It’s hard to see how a tax designed for a different era is still the best fit for today’s buyers.”