The Welsh Government has announced a temporary increase to the nil rate band of Land Transaction Tax (LTT) for residential property transactions in Wales from 27 July 2020.
This change means that from 27 July 2020:
- the nil rate band for main rate transactions will increase from £180,000 to £250,000, all transactions that complete before then should use the current rates and bands
- the new rates and bands will apply until 31 March 2021
The tax paid for higher rate residential or non-residential transactions are unchanged.
Rates and bands
Welsh Ministers set the rates and bands for LTT. They’re approved by the Welsh Parliament. You can use the table below to work out the amount of LTT due from 27 July 2020. We’ve also updated our LTT rates and bands page.
You can calculate how much LTT you currently pay by using our official tax calculator.
We’re updating our tax calculator, as well as other online services as a priority. We’ll confirm once our services are updated.
| Price Threshold | Main Residential Rate |
|---|---|
|
The portion up to and including £250,000 |
0% |
|
The portion over £250,000 up to and including £400,000 |
5% |
|
The portion over £400,000 up to and including £750,000 |
7.5% |
|
The portion over £750,000 up to and including £1,500,000 |
10% |
|
The portion over £1,500,000 |
12% |
| Price Threshold | Higher Residential Rate |
|---|---|
|
The portion up to and including £180,000 |
3% |
|
The portion over £180,000 up to and including £250,000 |
6.5% |
|
The portion over £250,000 up to and including £400,000 |
8% |
|
The portion over £400,000 up to and including £750,000 |
10.5% |
|
The portion over £750,000 up to and including £1,500,000 |
13% |
|
The portion over £1,500,000 |
15% |
| Price Threshold | Non-residential Rate |
|---|---|
|
The portion up to and including £150,000 |
0% |
|
The portion over £150,000 up to and including £250,000 |
1% |
|
The portion over £250,000 up to and including £1,000,000 |
5% |
|
The portion over £1,000,000 |
6% |
| NPV Threshold | Non-residential rent Rate |
|---|---|
|
The portion up to and including £150,000 |
0% |
|
The portion over £150,000 up to and including £2,000,000 |
1% |
|
The portion over £2,000,000 |
2% |
Support and information
For more information on LTT, read our Land Transaction Tax guide or you can contact us.