Stamp duty: all you need to know about this historic land tax

When we think about property history, we tend to imagine the heritage mews houses in Connaught Village, the John Nash terraces near Regent’s Park or the stucco fronted townhouses in Knightsbridge

We don’t actually think about how the transaction side of the property market has evolved over the years, with many of the facets of buying and selling dating back hundreds of years. This article takes a look at stamp duty land tax (SDLT) – a levy almost every buyer in London has to pay yet hardly ever questions. The tax actually dates back to 1694 during the reign of William and Mary, and remains one of the Government’s biggest fundraisers.Also documented within the feature are the most recent changes to the way SDLT is calculated (although this remained untouched in the March 2017 Budget). Interestingly, in 2015/16, 7% of all UK residential SDLT receipts came from the borough of Kensington and Chelsea (where estate agent and mews specialist Lurot Brand is particularly active). The average SDLT payment here was