Homebuyers paid £6.6bn in Stamp Duty Land Tax during the first half of 2026, according to Coventry Building Society’s analysis of the latest HMRC receipts.
The total was unchanged from the corresponding period last year, despite more purchases becoming liable for the tax following the reduction in thresholds on 1 April 2025.
The standard nil-rate threshold in England and Northern Ireland fell from £250,000 to £125,000, adding £2,500 to the Stamp Duty bill on purchases costing £250,000 or more.
Coventry calculated that a home mover purchasing an average-priced property in England would now face a bill of £4,572.
SIGNIFICANT TAX
Receipts reached £1.2bn in June alone, underlining the tax’s importance to the Treasury as the new government considers its approach to housing and property taxation.
The figures do not include Scotland or Wales, which operate separate property transaction taxes.
Jonathan Stinton, head of mortgage relations at Coventry Building Society, says: “The recent speculation around stamp duty shows just how significant the tax has become in conversations about the housing market.
“A new government brings an opportunity to consider whether the current system is still fit for purpose, but it’s equally important that buyers aren’t left in limbo while speculation continues.
“Whatever the long-term approach, careful consideration is needed given the role Stamp Duty plays in people’s decisions to move.
“Any reform should strike the right balance between reducing the upfront costs of buying a home and ensuring ongoing costs of homeownership remain affordable.
“Buyers shouldn’t be left trying to navigate one of life’s biggest financial decisions against a backdrop of uncertainty, so a clear sense of the government’s direction of travel would help people plan ahead and make confident decisions about their next move.”
The figures are based on Coventry Building Society’s analysis of HMRC tax receipts.
