LoginSubscribe to Alerts

Land Transaction Tax Changes In Wales

Posted 16 July 2020 by Keith Osborne

The Welsh Government has announced some changes to Land Transaction Tax (LTT), applicable from 27 July 2020...

The Welsh Government has announced a temporary increase to the nil rate band of Land Transaction Tax (LTT) for residential property transactions in Wales, applicable from 27 July 2020.

The nil rate band for main rate transactions will increase from £180,000 to £250,000. All transactions that complete before then will be under the current rates and bands, and the revised rates and bands will apply until 31 March 2021. The tax paid for higher rate residential (second homes) or non-residential transactions (buy-to-let investment property) are unchanged.

These are the revised rates.

Price Threshold Main Residential Rate
The portion up to and including £250,000 0%
The portion over £250,000 up to and including £400,000 5%
The portion over £400,000 up to and including £750,000 7.5%
The portion over £750,000 up to and including £1,500,000 10%
The portion over £1,500,000 12%

 

Price Threshold Higher Residential Rate
The portion up to and including £180,000 3%
The portion over £180,000 up to and including £250,000 6.5%
The portion over £250,000 up to and including £400,000 8%
The portion over £400,000 up to and including £750,000 10.5%
The portion over £750,000 up to and including £1,500,000 13%
The portion over £1,500,000 15%

 

Price Threshold Non-residential Rate
The portion up to and including £150,000 0%
The portion over £150,000 up to and including £250,000 1%
The portion over £250,000 up to and including £1,000,000 5%
The portion over £1,000,000 6%

 

NPV Threshold Non-residential rent Rate
The portion up to and including £150,000 0%
The portion over £150,000 up to and including £2,000,000 1%
The portion over £2,000,000 2%

 

Find retirement homes developments in Wales
Find affordable homes developments in Wales
Find luxury homes developments in Wales

 

Sign up for email alertsGet the latest properties and updates sent directly to your inbox daily, weekly or immediately you are in control.
Subscribe to Alerts
Search news and advice

Click here to see your activities