Welsh Land Transaction Tax (LTT)

From 1 April 2018, Wales will roll out its own stamp duty equivalent, the Land Transaction Tax (LTT), which preserves the essential structure of SDLT but with some key differences, including a higher starting threshold, together with higher rates of duty for some residential properties with a greater value. The existing first-time buyer exemption will also be removed.

The proposed new LTT rates are:

Residential (£) Rate (%)
Up to 180,000 0
180,000 - 250,000 3.5
250,000 - 400,000 5
400,000 - 750,000 7.5
750,000 - 1,500,000 10
Over 1,500,000 12

Additional LTT of 3% may apply to the purchase of additional residential properties.

Non-residential (£) Rate (%)
Up to 150,000 0
150,000 - 250,000 1
250,000 - 1,000,000 5
Over 1,000,000 6

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