Land Transaction Tax (LTT) Paid, Wales

From 1st April 2018 the Welsh Government introduced new rules which changed the payment of Stamp Duty on the purchase of a new home and replaced this with Land Transaction Tax (LTT) on all purchases more than £180,000.

What is LTT and why do we have to pay it?

Land Transaction Tax (LTT) is the tax charged by the Government in Wales when you buy a home for more than £180,000.

When you buy a property the change in land ownership has to be legally registered at the Land Registry. The Welsh Revenue Authority (WRA) are responsible for collecting Land Transaction Tax and will issue a certificate on receipt of the LTT payment due on the purchase of the property.

The transfer of funds to pay the LTT will be managed for you by your solicitor.

How much is LTT?

For single residential property owners: 

Purchase price

   LTT rate

£0 to £180,000

   0%

£180,001 to £250,000

   3.5%

£250,001 to £400,000

   5%

£400,001 to £750,000

   7.5%

£750,001 to £1,500,000

   10%

Over £1,500,001

   12%

How could we pay it for you?

Legally, the purchaser has to pay the LTT on their purchase. However, we may be able to contribute towards it for you, up to a maximum of 4% of the purchase price of your new Barratt home – just ask the Sales Adviser at the development.

Should you proceed with this offer, your solicitor will deduct the agreed contribution from the purchase price that is paid to us and allocate it to the LTT payment on completion of the purchase of your new home.

Click here to read the terms and conditions