This was a £102m decline compared to March, figures from HMRC showed, but was still the second-highest month for stamp duty receipts so far this year, up from totals of £848m in January and £1.1bn in February.
April’s intake was also higher than the £957m paid in stamp duty during the same month last year.
So far this year, homebuyers have paid £4.6bn in property taxes, compared to £3.4bn in 2024. HMRC said this increase was due to the higher nil-rate threshold.
Coventry Building Society said this showed that even after the March rush to beat the deadline, homebuyers were still paying “huge sums” in stamp duty.
The lower threshold means that on an averagely priced home, the tax bill has now risen from £2,282 to £4,782.
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Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “March saw a rush of buyers racing to complete before the threshold changes, yet in April buyers still paid a staggering amount in property tax. Some of this could be from a lag in payments, but it also shows how much buyers are being squeezed, which brings a worry of long-term strain on the market.
“When you’re juggling deposits, legal fees and moving costs, adding thousands of pounds in tax can push a move out of reach. It risks freezing people out of the market altogether – especially in higher-priced areas, where even modest homes now carry a hefty tax bill.”
He added: “For many, moving isn’t just about a new address – it’s tied to bigger life steps like starting a family, downsizing in retirement or getting closer to schools and support networks. When those plans get delayed, it doesn’t just affect individuals – it risks the whole market slowing down.”
IHT receipts come to £780m
In April, £780m was paid in inheritance tax (IHT), a £97m increase on the year before.
This was the second-highest monthly total ever recorded, and up from a total of £671m in March.
So far this year, HMRC has collected £2.7bn in IHT.
Helen Morrissey, head of retirement analysis at Hargreaves Lansdown, said this was down to a “small number of higher-than-usual payments”.
She added: “However, over the course of the year, frozen thresholds will continue to play their role in pushing the IHT tax take ever higher.”
After the Spring Statement, the Office for Budget Responsibility (OBR) predicted that IHT would raise £9.1bn for the Treasury over this financial year.
Stephen Lowe, director at Just Group, said: “The Treasury has enjoyed four years on the trot of record inheritance tax receipts and this April’s figures show a rapid start to 2025/26, with the tax raising over three-quarters of a billion pounds this month alone.
“Rising IHT receipts to date have been driven by the pincer movement of the ongoing freeze on thresholds alongside growth in asset prices. Further reforms announced at the Autumn Budget are likely to accelerate the inheritance tax haul even further over the coming years, especially proposed changes to the treatment of pension death benefits later this decade.”
This article was first published on YourMoney.com‘s sister site, Mortgage Solutions. Read: Stamp duty receipts fall post-threshold change and IHT intake surges to £780m – HMRC
