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Land Transaction Tax (LTT), Wales

Land Transaction Tax (LTT) is the Welsh equivalent of Stamp Duty.

The changes made by the Welsh Government mean 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 is LTT?

Land Transaction Tax (LTT) is the tax charged by the Government in Wales when you buy a home for more than £250,000.

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) will be responsible for collecting Land Transaction Tax and will issue a certificate on receipt of the LTT payment due on the purchase of the property. So, put simply, if you don't pay the LTT, you can't buy your new home.

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

How much is LTT?

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%


Discover Your LTT Savings

Enter your details into our updated LTT Calculator to discover how much LTT you’ll have to pay when you buy a home between now and 31st March 2021.

As well as this, you’ll also discover how much you will save based upon the previous LTT taxes if you were to purchase before the tax break ends.