Land Transaction Tax



Land Transaction Tax

Land Transaction Tax

The temporary land transaction tax (LTT) relief in Wales was extended until 30 June to align with the additional time added to the stamp duty holiday.

During the Budget, chancellor Rishi Sunak announced a continuation of the nil rate band on properties up to the value of £500,000 until June before lowering the threshold to £250,000 until 1 October to “smooth the transition”.

This now means that in Wales, no tax will be payable on any residential properties purchased up to a value of £250,000 for the next three months.