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1. Introduction

The tables below are ‘ready reckoners’, showing estimates of the effects of illustrative tax changes on tax receipts from 2026 to 2027, 2027 to 2028, and 2028 to 2029 fiscal years, based on implementation in April 2026. Illustrative changes are presented for various taxes - for example, showing the impact of a 1% or one percentage point change, assuming all other taxes and duties are unchanged. The change calculated for each tax head is detailed in each table.

Estimates are shown on a National Accounts basis, which aims to recognise tax at the time its liability arises, regardless of when the tax is received by HMRC. However, for some taxes the National Accounts basis is when HMRC receives the payment. This is due to difficulty in assessing the time at which the liability relates. Such taxes include Self-Assessment Income Tax, Inheritance Tax and Capital Gains Tax.

The figures in the table have been updated in line with the latest economy and fiscal forecasts from the Office for Budget Responsibility (OBR) published on 26 March 2025, alongside the Spring Statement 2025. Information which came to light after this date is not factored into the estimates in this publication.

Tax revenues depend on a number of key economic variables including Gross Domestic Product (GDP), prices, earnings and consumer expenditure.

The OBR’s March 2025 receipts forecast was revised downwards in the near-term and upwards in the medium-term, relative to their October 2024 forecast. This revision reflected a downward revision to the underlying forecast, offset by the upward impact of policy measures announced at the Spring Statement 2025.

It is important to note that the estimated impacts of the illustrative policy changes presented in the bulletin are reliant on the OBR’s March 2025 economic forecasts and are therefore sensitive to changes in the economic outlook. The estimates do not include any economic or policy changes made since the Spring Statement on 26th March 2025.

2. Methodology

Unless otherwise stated, the costs of the effects are estimated using standard HMRC models and methodologies.

All estimates show the impacts of the various illustrative changes on top of what is already assumed in the indexed baseline – this is generally revaluation based on latest available data, plus any previous announcements on rates and allowances up to and including the Spring Statement 2025. The changes are applied from April 2026.

The estimates only consider the direct impact of a measure on the tax base to which it is being applied, or to closely related tax bases. Generally, we do not consider effects on other tax bases and wider economic factors, such as inflation and investment, as these are usually captured in the OBR’s economy forecast.

Unless otherwise stated, the effects of the illustrative changes can be scaled up or down to provide a rough guide to the potential effects. A reduction of 2p in a tax rate will cost around twice as much as a reduction of 1p. However, the costs of increasing an Income Tax allowance or rate limit do not scale so linearly. Typically, the additional cost falls as the allowance or rate limit rises. We therefore provide estimates for different percentage increases and decreases for the main Income Tax allowance and limits. The illustrative figures for Capital Gains Tax rates are also non-linear and so cannot be scaled up, therefore, we have provided estimates for multiple percentage point increases for the Capital Gains Tax rates.

The total cost of a group of changes can broadly be assessed by adding together the estimated revenue effects of each change. However, if for example, Income Tax allowances are increased substantially and combined with a reduction in the basic or higher rate, the cost of the rate reductions will be reduced. In such cases, the cost or yield obtained by adding components from the ready reckoner should be considered only as a general guide.

3. Other useful information:

• our publications are available on the ÌìÃÀÓ°Ôº site where you can also find publications by other government bodies.

• if you wish to view all HMRC National Statistics and official statistics publications go to the main menu

• the relevance, accuracy and reliability of the costings in this table can be found in the quality report

• a copy of the table is included within this bulletin, but is also published as a separate ODS version

• the Office for Budget Responsibility has produced a in more detail

• for new measures announced at Spring Statement 2025 the methodologies are described in a , published by HM Treasury

• the Welsh Government publish a ready reckoner for the Welsh rates of Income Tax as part of the

• the Scottish Government publish a

4. Direct effects of illustrative changes

5. Income Tax rates

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change starting rate for savings income by 1p	0	10	5	1, 2, 3
Change basic rate by 1p	6900	8250	8200	1, 2, 3
Change higher rate by 1p	1600	2150	2100	1, 2, 3
Increase additional rate by 1p (yield)	145	265	230	1, 2, 3, 4
Decrease additional rate by 1p (cost)	175	335	300	1, 2, 3, 4

Notes:

(1) The illustrative figures for Income Tax (apart from those exclusively for savings or dividends income) show the exchequer impact on the UK government (this is. the impact on Income Tax revenues from England and Northern Ireland, plus any associated changes in the Scottish Government’s and Welsh Government’s block grants). The ready reckoner does not include any impacts of changes for the elements of Income Tax devolved for Scotland or Wales.

(2) The illustrative figure for changing the starting rate of Income Tax by 1p assumes a minimum savings allowance of 20%.

(3) The illustrative figures account for taxpayers’ behavioural responses, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. There is significant uncertainty around these modelling assumptions, particularly concerning rate changes to the Income Tax and National Insurance Contributions of Additional Rate taxpayers.

(4) The illustrative figures for changing the Additional Rate of Income Tax include impacts due to taxes on carried interest in 2026 to 2027 and 2027 to 2028. Carried interest will be taxed within the Income Tax framework from April 2026, as announced in the Autumn Budget 2024.

6. Income Tax allowances and reliefs

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change personal allowance by £100	810	1050	1000	1, 3
Change personal allowance by 1%	1000	1200	1100	1, 3
Change personal allowance by 10%	10000	11650	11500	1, 3
Change Savings allowance by £100 for BR and £50 for HR taxpayers	0	30	25	1, 3
Change dividend allowance by £100	0	70	65	1, 3

Notes:

(1) The illustrative figures for Income Tax (apart from those exclusively for savings or dividends income) show the exchequer impact on the UK government (this is. the impact on Income Tax revenues from England and Northern Ireland, plus any associated changes in the Scottish Government’s and Welsh Government’s block grants). The ready reckoner does not include any impacts of changes for the elements of Income Tax devolved for Scotland or Wales.

(3) The illustrative figures account for taxpayers’ behavioural responses, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. There is significant uncertainty around these modelling assumptions, particularly concerning rate changes to the Income Tax and National Insurance Contributions of Additional Rate taxpayers.

7. Income Tax limits

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change starting rate limit for savings income by £100	Neg	5	5	1, 3
Change basic rate limit by 1%	495	665	670	1, 3
Increase basic rate limit by 10% (cost)	4600	6250	6000	1, 3
Decrease basic rate limit by 10% (yield)	5400	7200	6950	1, 3

Notes:

(1) The illustrative figures for Income Tax (apart from those exclusively for savings or dividends income) show the exchequer impact on the UK government (this is. the impact on Income Tax revenues from England and Northern Ireland, plus any associated changes in the Scottish Government’s and Welsh Government’s block grants). The ready reckoner does not include any impacts of changes for the elements of Income Tax devolved for Scotland or Wales.

(3) The illustrative figures account for taxpayers’ behavioural responses, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. There is significant uncertainty around these modelling assumptions, particularly concerning rate changes to the Income Tax and National Insurance Contributions of Additional Rate taxpayers.

8. Income Tax allowances, starting and basic rate limits

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change all main allowances, starting and basic rate limits by 1%	1450	1850	1800	1, 3
Increase all main allowances, starting and basic rate limits by 10% (cost)	14400	17700	17300	1, 3
Decrease all main allowances, starting and basic rate limits by 10% (yield)	16100	19700	19350	1, 3

Notes:

(1) The illustrative figures for Income Tax (apart from those exclusively for savings or dividends income) show the exchequer impact on the UK government (this is. the impact on Income Tax revenues from England and Northern Ireland, plus any associated changes in the Scottish Government’s and Welsh Government’s block grants). The ready reckoner does not include any impacts of changes for the elements of Income Tax devolved for Scotland or Wales.

(3) The illustrative figures account for taxpayers’ behavioural responses, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. There is significant uncertainty around these modelling assumptions, particularly concerning rate changes to the Income Tax and National Insurance Contributions of Additional Rate taxpayers.

9. National Insurance contributions rates

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change Class 1 employee main rate by 1 percentage point	5350	5300	5400	5, 6, 8
Change Class 1 employee additional rate by 1 percentage point	2000	2000	2050	5, 6, 8
Change Class 1 employer rate by 1 percentage point	11150	11250	11550	6, 7, 8
Change Class 4 main rate by 1 percentage point	440	525	445	5, 8
Change Class 4 additional rate by 1 percentage point	295	355	320	5, 8

Notes:

(5) Behavioural effects are included in these illustrative figures where appropriate, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. The approach taken to produce these estimates differs from the methodology used by the Office for Budget Responsibility (OBR) at Spring Budget 2024 for the two percentage point cuts in Class 1 and 4 National Insurance Contributions and presented in their Economic and Fiscal Outlook for March 2024. This is due to the OBR applying labour market impacts instead of taxable income elasticities at that event. There is a degree of overlap between taxable income elasticities and labour supply elasticities, with the OBR’s decision to use the latter in this instance being a pragmatic one. More information about the OBR costing methodology for the NICs cuts announced at Autumn Budget 2023 and Spring Budget 2024 is available on the OBR’s website. There is significant uncertainty around these modelling assumptions.

(6) The illustrative figures include Class 1A and Class 1B National Insurance paid by employers.

(7) A change to the rate of Class 1 employer National Insurance contributions (NICs) would have substantial additional negative exchequer effects from earnings and business profits depending on the assumed incidence of an employer rate increase. These judgements are made by the Office for Budget Responsibility with the effects captured in their economic and fiscal forecasts. These effects are not captured here, but the impact of the NIC changes announced at Autumn Budget 2024 is available on the OBR’s website. There is significant uncertainty around these modelling assumptions.

(8) This publication no longer includes an estimate for changing Class 2 NICs amounts, following the Government’s Autumn Statement 2023 announcement that the self-employed will no longer have to pay Class 2 from April 2024 onwards.

10. National Insurance Contribution Limits

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change employee entry threshold by £2 per week	210	230	250	9
Change employer threshold by £2 per week	420	430	470	7, 10
Change lower profits limit by £104 per year	15	15	20	9
Change upper profits limit by £520 per year	10	10	10	9
Change upper earnings limit by £10 per week	220	220	200	9

Notes:

(7) A change to the rate of Class 1 employer National Insurance contributions (NICs) would have substantial additional negative exchequer effects from earnings and business profits depending on the assumed incidence of an employer rate increase. These judgements are made by the Office for Budget Responsibility with the effects captured in their economic and fiscal forecasts. These effects are not captured here, but the impact of the NIC changes announced at Autumn Budget 2024 is available on the OBR’s website. There is significant uncertainty around these modelling assumptions.

(9) Behavioural effects are included in these illustrative figures where appropriate, estimated by applying taxable income elasticities and by considering the impact on tax motivated incorporations. There is significant uncertainty around these modelling assumptions.

(10) The illustrative figures include Class 1A and Class 1B National Insurance paid by employers.

11. Child Benefit

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase first child rate by £1 per week (cost)	335	335	330	11
Decrease first child rate by £1 per week (yield)	335	355	345	11
Increase subsequent child rate by £1 per week (cost)	230	240	245	11
Decrease subsequent child rate by £1 per week (yield)	230	225	220	11

Notes:

(11) Includes impact on High Income Child Benefit Charge receipts.

12. Corporation tax

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase Corporation tax by 1 percentage point	3600	3900	4000	12

Notes:

(12) This estimate represents a 1 percentage point change to the main rate and small profits rate for onshore Corporation tax; it does not include offshore Corporation tax for North Sea oil and gas companies, Energy Profits Levy, Bank Surcharge nor Residential Property Developer Tax, which are separate profits-based taxes. Corporation tax is presented as ‘time-adjusted cash’, in line with the way the Office for National Statistics reports these revenues in the Public Sector Finances. The methodology for calculating time-adjusted cash aligns receipts more closely to the period of the economic activity that generates the tax liability.

13. Capital Gains Tax

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase Business Asset Disposal Relief rate by 1 percentage point	10	135	180	13
Increase Business Asset Disposal Relief rate by 5 percentage points	40	635	840	13, 14
Increase lower Capital Gains Tax rate by 1 percentage point	-5	10	5	13, 15
Increase lower Capital Gains Tax rate by 5 percentage points	-40	20	-10	13, 14, 15
Increase lower Capital Gains Tax rate by 10 percentage points	-130	-55	-135	13, 14, 15
Increase higher Capital Gains Tax rate by 1 percentage point	-15	80	-30	13, 15
Increase higher Capital Gains Tax rate by 5 percentage points	-170	-235	-870	13, 14, 15
Increase higher Capital Gains Tax rate by 10 percentage points	-540	-2060	-3565	13, 14, 15
Increase Annual Exempt Amount by £500 for individuals and £250 for trusts	0	-35	-30	13, 15

Notes:

(13) Estimates have been revised in line with updates to the Capital Gains Tax forecast and key economic variables. All estimates include behavioural impacts on Capital Gains Tax, Income Tax and Stamp Duty Land Tax. Capital Gains Tax behavioural estimates are based on a CGT elasticity estimated on HMRC data. The baseline for these estimates includes all measures that have been announced and will be in effect over the period of estimation. This includes changes to Capital Gains Tax rates announced at Autumn Budget 2024. Capital Gains Tax lower and higher rates include changes to both the residential property and the main rates. Capital Gains Tax on Carried interest is no longer included in these estimates as it is now included in the Income Tax estimates from 2026 to 2027.

(14) Please note that these rate changes are non-linear and asymmetrical. For example, doubling the change in revenue from a 5-percentage-point increase does not accurately predict the change in revenue under a 10-percentage-point increase. Very large tax rate rises can reduce exchequer yield due to taxpayer behavioural impacts.

(15) The illustrative tax changes for CGT includes a number of different effects which occur at different points of the estimation period. For example, an increase in the Residential Property higher rate can lower Capital Gains Tax disposals and Stamp Duty Land Tax revenue which are largely scored in the same year as they happen, whereas increases to the main rates of Capital Gains Tax have effects on Capital Gains Tax and Income Tax that largely lag a year due to Self-Assessment tax returns. Depending on the strength of the loss or yield from each tax head in each year we may see a net loss to the exchequer in some years and a net revenue gain in other years. Negative signs are used in the CGT illustrative tax changes to indicate net losses.

14. Inheritance tax

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase standard rate for estates left on death by 1 percentage point	105	240	290	16, 17
Increase Nil Rate Band by £5,000 (cost)	60	140	165	16
Increase Residence Nil Rate Band by £5,000 (cost)	25	55	65	16

Notes:

(16) Due to the six-month lag between the date of death and when Inheritance Tax becomes due, receipts in the first year of the policy change will be lower than in subsequent years.

(17) Increase to main rate and reduced rate of Inheritance Tax.

15. 1% change in various duties

Illustrative tax changes	Indicative level of current duty on a typical item	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Beer and cider duties	Pint of beer: 56p	25	30	30	18, 19
Wine and other fermented product duties	75cl bottle of table wine: £2.59	40	40	40	18, 20
Spirits duties	70cl bottle of spirits £9.57	40	40	45	18, 21
Tobacco Duties	Packet of 20 cigarettes: £9.08	5	10	15	22, 23
Petrol	52.95p per litre	100	100	100	24
Diesel	52.95p per litre	140	135	130	24
Rebated oil	10.18p per litre	neg	neg	neg	24
Climate change levy	1kWh of business electricity: £0.00775	15	15	15	-
Carbon price support	Tonne of carbon: £18	5	5	neg	-
Aggregates levy	Tonne of Aggregate: £2.08	5	5	5	25
Landfill tax	Tonne of waste: £4.05	neg	neg	neg	25, 26

Notes:

(18) All illustrative impacts to alcohol rates are based on the alcohol taxation regime implemented from August 2023. To align with other estimates in this publication all rate changes are assumed to take effect from 6th April each year. In practice, as announced at Autumn Budget 2024, the OBR’s forecast assumes that alcohol duties will be uprated on 1st February each year from 2025 onwards.

(19) Beer and cider: the illustrative revenue figures are based on duty increases on all beer, all still cider and sparkling cider with an ABV (alcohol by volume) below 5.5%. The strength of a typical pint of beer is assumed to be 4.5% ABV (rounded to 1 d.p.). The amount of duty paid on a pint of beer reflects rates for an off-trade product. Draught beer faces a lower rate since 1st August 2023, with the duty on a pint of 4.5% ABV (1 d.p.) beer being 48p. The alcohol duty paid on a drink is relative to its alcoholic strength, so exact rates will vary based on ABV.

(20) Wine and other fermented product: the illustrative revenue figures are based on duty increases on all wine and other fermented products, as well as sparkling cider from 5.5% to 8.5% ABV. The strength of a typical bottle of wine is assumed to be 11.7% ABV (1 d.p.). The alcohol duty paid on a drink is relative to the alcoholic strength of the drink, so exact rates will vary based on ABV.

(21) Spirits: the strength of a typical bottle of high-strength spirit is assumed to be 41.7% ABV (1 d.p.). The alcohol duty paid on a drink is relative to its alcoholic strength, so exact rates will vary based on ABV.

(22) Duty on cigarettes has specific and ad valorem elements. As the duty paid on cigarettes is relative to their price, the exact duty on a pack is variable. The indicative duty figure is based on the weighted average price (WAP) in 2025 and current duty rates. A 1% change in specific duty rate is applied to all tobacco products and is also applied to the Minimum Excise Tax for cigarettes. The tobacco duty change estimated here is assumed to occur in Autumn 2026 which leads to a smaller revenue figure in 2026 to 2027 as the ready reckoned rate only affects part of this year.

(23) As a result of the October 2026 introduction of Vaping Products Duty, from this date the tobacco duty illustrative figures also show the exchequer impact of tobacco duty changes on vaping duty receipts through substitution effects.

(24) The 2026 to 2027 figures have been calculated by adding 5 pence to the 2025 to 2026 ready reckoned duty rate and then uprated by forecast RPI+1% (to incorporate the ready reckoner). This reflects the expiry of the 5p cut in April 2026 assumed in the baseline. The 2027 to 2028 and 2028 to 2029 duty rates has been calculated by uprating the previous year’s duty rate by forecast RPI.

(25) The indicative level of current duty on a typical item for the Aggregates Levy and the Landfill Tax reflect rates from 1 April 2025.

(26) Landfill Tax (LFT) has been devolved to Scotland and Wales. The estimates shown relate to England and Northern Ireland only.

16. Vehicle excise duty

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase rates by £1 for motorbikes and £5 for all other vehicles	205	210	215	27

Notes:

(27) The 2026 to 2027 figure represents the revenue raised as a result of increasing all VED rates for 2025 to 2026 by £5, other than motorbikes, which were increased by £1. This increased rate then affects rates from 2027 to 2028 and beyond, as they are increased by forecast RPI. Rates are rounded as standard.

17. Air passenger duty

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Increase reduced rate by £1	115	125	130	28

Notes:

(28) The 2026 to 2027 figure represents the revenue raised as a result of increasing reduced APD rates for 2025 to 2026 by £1. This then affects 2027 to 2028 reduced rates, which have been increased above RPI inflation. In addition, APD rates from 2027 to 2028 onwards are rounded to the nearest penny.

18. VAT

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change reduced rate by 1 percentage point	490	480	480	-
Change standard rate by 1 percentage point	8800	9200	9550	-

19. Insurance premium tax

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Change standard rate by 1 percentage point	630	640	660	-
Change higher rate by 1 percentage point	20	20	20	-

20. Stamp duty land tax

Illustrative tax changes	Current Estimate, financial year 2026 to 2027,£ million	Current Estimate, financial year 2027 to 2028,£ million	Current Estimate, financial year 2028 to 2029,£ million	Note
Cut residential 2% marginal rate by 1 percentage point (Cost)	450	460	525	29, 30
Raise residential 2% marginal rate by 1 percentage point (Yield)	420	425	490	29, 30
Cut residential 5% marginal rate by 1 percentage point (Cost)	775	795	940	29, 31
Raise residential 5% marginal rate by 1 percentage point (Yield)	685	680	815	29, 31
Cut residential 10% marginal rate by 1 percentage point (Cost)	40	25	35	29
Raise residential 10% marginal rate by 1 percentage point (Yield)	35	15	25	29
Cut residential 12% marginal rate by 1 percentage point (Cost)	-10	-40	-35	29, 32, 33
Raise residential 12% marginal rate by 1 percentage point (Yield)	-25	-60	-60	29, 32, 33
Decrease Higher Rates of Duty on Additional Dwellings by 1 percentage point (Cost)	90	5	100	29, 32
Increase Higher Rates of Duty on Additional Dwellings by 1 percentage point (Yield)	-45	-130	-50	29, 32, 33
Decrease NRSDLT by 1 percentage point (Cost)	10	-5	25	29, 32, 33
Increase NRSDLT by 1 percentage point (Yield)	-10	-25	0	29, 32, 33
Decrease non-residential 5% marginal rate by 1 percentage point (Cost)	305	355	410	34
Increase non-residential 5% marginal rate by 1 percentage point (Yield)	150	185	230	34

Notes:

(29) This includes the cost of Capital Gains Tax/Inheritance Tax interactions.

(30) The residential nil-rate band reverted to £125,000 (£300,000 for First-Time Buyers) and the First-Time Buyers’ Relief eligibility cap reverted to £500,000 for 2025 to 2026 onwards.

(31) This also includes the cost from the same change made to the rate paid by First-Time Buyers purchasing a property for a price between £300,000 and £500,000.

(32) Please note that these rate changes are non-linear and asymmetrical. For example, doubling the change in revenue from a 1-percentage-point increase does not accurately predict the change in revenue under a 2-percentage-point increase. Some tax rate rises at higher rates can reduce exchequer yield due to taxpayer behavioural impacts.

(33) Please note that negative values for costs indicate net yield and negative values for yields are a net costs.

(34) ‘Non-residential’ rates were previously labelled ‘commercial’ but have been renamed to align labels used across publications. Note that non-residential SDLT is different from NRSDLT, which is SDLT paid by non-residents on residential transactions.

21. Contacts

For statistical enquiries, contact:
mailbox.kaibudgetcoordination@hmrc.gov.uk

For media enquiries, see HMRC press office

Direct effects of illustrative tax changes website