Stamp tax receipts jumped 20% to £14bn between last April and December, or £2.3bn higher than the same period a year ago, the latest HMRC data shows.

The body says that the data “is mainly driven by increased transaction levels” between October and December.

These figures, which are primarily made up of stamp duty revenues, cover England and Northern Ireland, but exclude Scotland and Wales.

There were 104,440 residential property transactions in November, up 19% year-on-year on a non-seasonally adjusted basis, HMRC reported earlier this month.

The numbers come as the property industry prepares for a spike in homebuying in the run-up to April when stamp duty thresholds will be cut.

In April, the current stamp duty threshold of £250,000 will halve to its previous level of £125,000, after Chancellor Rachel Reeves decided not to extend this temporary relief in her October Budget.

For first-time buyers, the stamp duty threshold falls to £300,000 from £425,000, while the maximum purchase price FTBs relief can be claimed on will fall to £500,000 from the current level of £625,000.

The expected busy period will also coincide with industrial action from 4,000 Land Registry staff across 14 offices in England and Wales.

Members of the Public and Commercial Services union began working to rule yesterday (21 January) in a dispute over hours worked from home and other conditions.