Receipts for stamp duty from April 2022 to September 2022 came to £10.7bn, show government figures.

This is £2.2bn more on the same period last year.

The government report states: “The significantly higher receipts from April 2022, compared to the same period a year earlier, can be explained in part by the lower tax rates last year due to the stamp duty land tax residential holiday, which finished at the end of September 2021.”

So far this year, analysis by Coventry Building Society reveals, home buyers have paid of £12.1bn in the first three quarters of 2022, which is an increase of £3.2bn compared to last year.

The lender says that 2022 is therefore set to be a record year for stamp duty receipts.

Hargreaves Lansdown senior pensions and retirement analyst Helen Morrissey comments, however: “There are signs the air is starting to come out of the inflated housing market in recent months as mortgage rates increase and the rising cost of living puts pressure on people’s budgets.

“We may see these figures tail off in the coming months as people decide to put off moving home.”