Stamp Duty Land Tax (SDLT) fell below £800m for the first time in four months, according to London Chartered Accountants Blick Rothenberg LLP.

This follows the release of November’s tax statistics.

Frank Nash, a tax partner with the firm, said: “Only £781m was collected in November, but we expect SDLT Receipts to increase in coming months, both on the back of the second phase of the Help to Buy Scheme (Mortgage Guarantee) and also the proposed reduction of the final period of the Capital Gains Tax main residence exemption, from 36 months to 18 months, from next April.

“There may be a number of home owners who have retained property, which they previously occupied, which they may now wish to release to the market before these rules kick in.”

Nash said that the total income tax rates continued to rise as in previous months. From April to November income tax receipts were up by around £3.71bn, with most of that coming from employee deductions under PAYE.

He added: “VAT has also increased over the same period by £3.26bn with 75% of that increase coming in the last three months alone. The Christmas spending figures will be interesting, but we expect VAT receipts to continue to rise.”