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Land Transaction Tax (LTT) holiday has been extended

LTT savings have been extended by the Government for home buyers in Wales.

This means, if you buy a home up to the value of £250,000, you won’t need to pay any LTT, and even if you are buying a home over £250,000, you will make a saving. So now could be a great time to buy your new home.

What do the changes mean for you?

Land Transaction Tax (LTT) is the tax charged by the Government in Wales when you buy a home.

Following the Government announcement in Wales:


  • No LTT is payable on homes up to £250,000 until 30th June 2021.

  • It will then be returning to normal from July, so act now to benefit from these savings.

Why do we have to pay it?

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? - Rates until 30th June 2021

For homes over £250,000 there is still no LTT to pay on the first £250,000, then the following rates apply:

Purchase price

LTT rate

£0 to £250,000

0%

£250,001 to £400,000

5%

£400,001 to £750,000

7.5%

£750,001 to £1,500,000

10%

Over £1,500,000

12%

 

Use our LTT calculator

If you’ve found the home you’ve been looking for and are wondering how much LTT you’ll have to pay, use our LTT Calculator today.

With the Government across the UK reducing LTT from now until 30th June 2021 you could make a large saving when purchasing a home. Our calculator will show you how much you’ll pay, but also how much you could save too.

Enter your details in the calculator and discover how much LTT you’ll pay on your new home.