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Professional accountants serving the UK and helping small businesses to grow!

Whether you are an expanding company or just starting up, KAMP Accountants is here to help.

With extensive experience working with large and small clients throughout the UK, we support large and small business in a broad range of business sectors with all their accountancy requirements.

Stamp Duty tax receipt trends revealed in new reports

Newsletter issue – January 2025

Among the changes we saw at Budget 2024 related to Stamp Duty - the tax you pay when you buy a new property.

And a raft of new statistics has been released in the last couple of weeks, suggesting a significant trend downwards in terms of the amount of money the Treasury is receiving from this form of tax in the last couple of years. But on the flip side, other figures show signs of an increase in the later part of 2024.

The higher rates for people owning more than one home - and for companies, is set to rise from 3% to 5% above the standard residential rates, following the Chancellor's Budget in October. The single rate of Stamp Duty Land Tax (SDLT) payable by companies and 'non-natural persons' buying homes for more than £500,000, will also go up from 15% to 17%.

In its latest annual report, the Government revealed that total stamp tax receipts fell between financial year 2022-23 and 2023-24. There was a 23% drop - falling from £19.13 billion to £14.81billion. And SDLT receipts fell from £15.36billion to £11.61billion from tax year 2022-23 to 2023-24 - a reduction of 24%.

The latest quarterly figures for 2024 were also released, showing a rise in the latter part of the year for total SDLT transactions. They were 15% higher than in Q3 2024 (July to September) than the previous quarter, and 8% higher than in Q3 2023. This report also showed residential property transactions in Q3 2024 were 17% higher than in the previous quarter, and 9% higher than in Q3 2023.

In terms of total SDLT receipts, in Q3 2024 these were 14% higher than in the previous quarter, and 6% higher than Q3 2023. Residential property receipts in Q3 2024 rose by 20% compared to the previous quarter, and were 5% higher than Q3 2023, according to the Government data.

And, finally, additional figures showed that about £1.31bn was paid in SDLT in November, slightly lower than the £1.35bn intake in October.

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations and projections
  • Annual superannuation certificates for Partners
  • Practice manager training about bookkeeping
  • 2 - 4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

•VAT advice •Capital gains tax planning •Partnership agreements •Surgeries finances •Pension planning •Budget and cashflow planning •Inheritance Tax planning

Recurrent Annual Services based on fixed fee:

  • Accounts and Taxation
  • Accounts prepared on time and presented to you at your premises
  • Income tax calculations for Principles and Associates
  • Practice manager training about bookkeeping
  • 2-4 meetings in a year at your premises
  • Personal expenses
  • Payroll
  • SD55 for practice staff
  • Installation and training in respect of practice computerised accounting system
  • Unlimited telephone and email support for adhoc queries

Non - recurrent Services

  • VAT advice
  • Capital gains tax planning
  • Partnership agreements
  • Surgeries finances
  • Pension planning
  • Budget and cashflow planning
  • Inheritance Tax planning

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Medical Practices

Our specialist team provides a wide range of accounting and business services to General Practice.

Recurrent Annual Services based on fixed fee:

Dental Surgeries

Fees for non-recurrent services would be based on time involved and would be agreed before we start work on given task.

Recurrent Annual Services based on fixed fee: