Stamp Duty Land Tax (SDLT) has become one of the most influential — and controversial — forces shaping the UK property market.

And it’s undergone a significant transformation over recent decades, reflecting government interventions aimed at balancing housing market stability, public revenue needs, and housing affordability.

Nowhere is its impact more visible than in London , as according to HMRC figures for the 2023/24 financial year, the capital accounted for £4.55 billion in residential SDLT tax receipts — representing an extraordinary 41% of the total collected across England and Northern Ireland .

When combined with the South East region, this proportion rises to 62%, underscoring the heavy concentration of property market activity in London and its surroundings.

Which Lond

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