Table of Contents
- LTT Calculator – Land Transaction Tax in Wales
- Stamp Duty in Wales
- LTT Property Tax Bands in Wales
- Stamp Duty in Wales (LTT) FAQ
LTT Calculator – Land Transaction Tax in Wales
Stamp duty in Wales is called Land Transaction Tax
LTT or Land Transaction Tax is the new name of stamp duty in Wales. This property tax was introduced in April 2018 and the money generated from LTT in Wales is used to help support public services throughout Wales. Formerly the equivalent tax was known as stamp duty in Wales.
Use our Wales LTT calculator below to find out how much Land Transaction Tax you need to pay on your property. Our LTT calculator is for guidance purposes only, please seek advice from the local authorities in Wales or from a professional adviser to calculate the exact amount of LTT which will apply to your property transaction.
Below the LTT calculator we have listed some of your most common questions about stamp duty in Wales (LTT) and other key information you need to know before buying or selling a property in Wales
Stamp Duty in Wales
The new name for stamp duty in Wales is Land Transaction Tax or LTT
Stamp duty in Wales is now known as Land Transaction Tax, or LTT for short. If you purchase a house in Wales or land over a certain value, you must pay LTT to the authorities in Wales. There are two property price thresholds at which you must begin paying this Welsh stamp duty. They are as follows (Correct as of July 2020 as stated by the Welsh Government):
- £180,000 for residential properties in Wales
- £150,000 for non-residential properties and land
If you need to find out about stamp duty in Wales before March 31st 2018 (the day before LTT was introduced) then you should contact the HMRC with your enquiry.
When did stamp duty in Wales end?
Stamp duty in Wales ended officially on 31st March 2018 and was replaced by Land Transaction Tax on 1st of April, 2018. This new property tax is easier to calculate and more straightforward than the older system of stamp duty for properties in Wales.
LTT Property Tax Bands in Wales
Land Transaction Tax in Wales is calculated in bands depending on the value of your property. You will pay in increments if is applicable to your property price. Using the table below you can see the rates for LTT in Wales.
You may pay more than one band if that applies to your property. For example, if you bought your house for £275,000, you would pay 3.5% on the portion from £180,000 – £250,000, then 5% on the rest over £250,000. If this seems confusing don’t worry, our LTT calculator above makes it easy for you to calculate the amount of property tax you must pay on your property in Wales.
LTT Tax Bands in Wales
|Property Price||LTT Tax Rate|
|Up to and including £180,000||0%|
|From over £180,000 up to and inc. £250,000||3.5%|
|From over £250,000 up to and inc. £400,000||5%|
|From over £400,000 up to and inc. £750,000||7.5%|
|From over £750,000 up to and inc. £1,500,000||10%|
|From over £1,500,000||12%|
Stamp Duty in Wales (LTT) FAQ
How much is stamp duty in Wales?
Stamp duty in Wales was replaces with Land Transaction Tax on 1st of April 2018. It is calculated in bands depending on the price of your property. Use our LTT calculator above to get a guide for the amount of LTT you will have to pay. If you need to find out more about stamp duty in Wales prior to March 31st 2018, contact HMRC.
What Is Land Transaction Tax in Wales?
LTT or Land Transaction Tax is a tax levied on property sales in Wales. The money raised from LTT helps fund public spending and projects in Wales. You can see the bands for the different property tax rates by looking at the table above.
Do I have to pay stamp duty in Wales?
Stamp duty in Wales no longer applies to property sales since it was replaced by Land Transaction Tax on 1st of April 2018. If you are in doubt whether LTT applies to your own property purchase, consult the calculator above and contact the relevant local authority in the area of Wales you have purchased your property.
Do I pay more Land Transaction Tax for a second home in Wales?
The short answer is yes. If you use our LTT calculator above, tick the box which asks if you are purchasing a second home. You will then see the approximate rate you will have to pay for your property purchase.