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The Welsh Government announced a temporary increase to the nil rate band of Land Transaction Tax (LTT) for residential property transactions in Wales from 27 July 2020 until 31 March 2021.
Before the announcement
You paid nothing on properties up to and including £180,000, 3.5% on the portion over £180,000 up to and including £250,000, 5% on the portion over £250,000 up to and including £400,000.
After the announcement
From 27th July, you pay nothing on properties up to and including £250,000*, 5% on the portion over £250,000 up to and including £400,000.
The tax paid for higher rate residential or non-residential transactions are unchanged.
So now is the time to give your budget a boost and find your perfect new home in South Wales!
Use the stamp duty calculator to find out more!
*subject to the property being your main residence and not an additional property
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The Mill Canton, Cardiff CF11 8DH
Tel 02920 601 598
Contact Us
@themillcanton themillcanton