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
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||0%||4% (inc from 3% to 4% January 2021)|
|£180,000+ to £250,000||3.5% 0% from 27th July 2020 to 31st March 2021 *see note||3.5% + 4% = 7.5%|
|£250,000+ to £400,000||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-
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 3% 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 15th February 2021