Property transaction stats under scrutiny

HMRC have published details concerning alterations that have been made to monthly property transaction statistics.

Following the responses taken from the Revenue's operational review and consultations on the efficiency of the property transaction statistics published on their website, the department said it had been ‘working on amendments to the published monthly property transaction series’.

HMRC also announced the need to make ‘further important changes’ in light of the abolition of information property transactions under £40,000 (the new notification threshold for stamp duty land tax), which came into play on Budget day 2008. 

The change has reportedly been introduced to reduce the administrative burden on purchasers and their agents when buying a low value property.

Issue: 4274 / Categories: News , Land & property