25 Apr, 2019/ by Homeward Legal /Buyer, First Time Buyer, Sale & Purchase
There are now three distinct land tax regimes in operation across the UK. Stamp Duty Land Tax applies in England and Northern Ireland. Rather than stamp duty, Wales now has the Land Transaction Tax (LTT), while Scotland operates the Land and Buildings Transaction Tax (LBTT).
Homeward Legal works with conveyancing solicitors across England and Wales, so any property lawyer dealing with your home purchase in Wales will provide the information you need on exactly how much your LTT bill will be.
No exemption for FTBs
While England has exemptions for first-time buyers, there is no specific exemption for FTBs in Wales.
However, no tax is paid on any purchase up to £180,000, which the Welsh Government is confident covers most first-time property buyers in the principality. As in England and Northern Ireland, there is a supplementary charge for those buying to let or purchasing an additional property.
LTT operates on a similar sliding scale to that used by SDLT in England. And just as with SDLT, your conveyancing solicitor will complete a tax return with the Welsh Revenue Agency within 30 days of completion.
You can work out how much LTT you can expect to pay by using the LTT calculator on the Welsh Government website.
2019 rates for LTT in Wales
| Property/land price | LTT rate | Additional property rate |
| £0- to £180,000 | 0% | 3% |
| £180,001-£250,000 | 3.5% | 6.5% |
| £250,001-£400,000 | 5% | 8% |
| £400,001-£750,000 | 7.5% | 10.5% |
| £750,001-£1.5m | 10% | 13% |
| £1,500,001 and above | 12% | 15% |
Dedicated conveyancing for Wales from Homeward Legal
When you are buying a property in Wales, your quote for conveyancing services from Homeward Legal will reflect the LTT rates. And your conveyancing solicitor will be registered with the Welsh Revenue Agency to ensure a smooth completion of your transaction and your LTT paid within the required time.
Talk to our friendly team now on to get a competitive quote for purchase conveyancing in Wales. We're open seven days.
An instant no-obligation quote online will also give you a good idea of the value-for-money conveyancing services on offer from Homeward Legal for all buyers and sellers across England and Wales.