Tudor Estate Agents - Surveyors and Property Managers - New Nov 16

calculatorTax1 On 27 September 2022, the Welsh Government announced the main residential rates of Land Transaction Tax (LTT) are due to change on 10 October 2022.

Changes from 10th October 2022

From 1st April 2108, in Wales, Stamp Duty Land Tax (SDLT) will be replaced by Land Transaction Tax (LTT).

The framework is similar to LTT but the rages and amounts differ.

The following is prepared as a guide only. Prospective purchasers should obtain detailed advice before committing to a purchase.

The rates have changed and the latest information (at February 2021) is as follows :

Land Transaction Tax (LTT) Wales

Land Transaction Tax (LTT) Wales

A handy calculator for the amount payable is available on the Welsh Government Website here

Price Paid	LTLT Rate	LTT 2nd Property
up to £180,000 (increases to £225,000 on 10th October 2022)	0%	4% (inc from 3% to 4% January 2021)
£180,000+ to £250,000 (band changes on 10th October)	3.5%	3.5% + 4% = 7.5%
£250,000+ to £400,000 (band changes on 10th October)	5%	5% + 4% = 9%
£400,000+ to £750,000	7.5%	7.5% + 4% = 11.5%
£750,000+ to £1.5M	10%	10% + 4% = 14%
Over £1.5M+	12%	12% + 4% = 16%

* Note reduced rates of LTT from 27th July to 31st March 2021- extended to end June - this has now ended. see article here

If you buy a property for more than £250,000, you pay Land Transaction Tax (LTT). The amount payable depends on the purchase price of the property.

There is an additional 4% stamp duty on all buy to let purchases and on the purchase of a second home.

The above information is to provided as a guide and should not be relied upon by buyers or sellers - please take advice before making any commitment to buy or sell.

Updated 25th August 2021

Stamp Duty Information > Land Transaction Tax

Changes from 10th October 2022

Land Transaction Tax (LTT) Wales

The above information is to provided as a guide and should not be relied upon by buyers or sellers - please take advice before making any commitment to buy or sell.