This was down by eight per cent on October’s revenue of £1.32bn and September’s £1.28bn, just after the stamp duty holiday ended.
HMRC said the higher intake in September and October was down to the increased number of transactions which took place as the tax break drew to a close.
Annually, stamp duty revenue for the month was up on last November’s £825m.
An analysis of HMRC’s figures by Coventry Building Society found income from stamp duty land tax for the first 11 months of 2021 had reached £11.44bn so far. It found this was the highest 11-month total since 2017, when the figure reached £11.76bn.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said this showed how high the demand for higher value homes had been.
He added: “While we’re entering a quieter period for the mortgage market, we’d expect to see activity pick up fairly quickly in 2022, and without a stamp duty holiday in place, receipts for HMRC will undoubtedly continue to climb next year.
“Plus, with the Bank of England proposing to ease affordability rules in 2022, this could well push up demand, therefore increasing prices and pushing stamp duty receipts even higher.”
Financial year receipts £4.5bn higher
HMRC’s figures showed that stamp duty receipts from the start of the financial year in April to November amounted to £11.7bn, £4.5bn higher than the same period last year.
Overall tax income for the same period reached £448.1bn.
Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “While not accounting for a huge proportion of the overall tax take, stamp duty continues to surge – up 63 per cent on the same period last year.
“Since the stamp duty holiday ended in September, we’ve since seen the market cool a little, though prices remain high and people without a large deposit will find it increasingly difficult to get on the housing ladder any time soon. However, with interest rates on the rise we could see a further cooling which could entice more people to make the leap.”
