Land Transaction Tax (LTT) (Wales Only)

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?

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

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 will be managed for you by your solicitor.

How much is LTT?

Purchase price

LTT rate

Up to £180,000

0%

Above £180,000 to £250,000

3.5%

Above £250,000 to £400,000

5%

Above £400,000 to £750,000

7.5%

Over £750,000 to £1,500,000

10%

Over £1,500,000

12%