Stamp duty

Stamp duty was invented by the Dutch in 1624 and first levied in the UK in 1694. It was so successful that it remained, even when its imposition caused riots in the American colonies during 1765.

Stamp duty is payable on documents which transfer ownership of an asset (e.g. on the sale of a house or disposal of shares). It is also payable on the grant of a lease.

For 1999/2000 stamp duty paid totalled £3.7 billion. It is the oldest tax administered by HM Revenue & Customs.