Land Transaction Tax
4th March 2021
4th March 2021
LTT is paid when you buy or lease a building or land over a certain price.
All queries on stamp duty land tax in Wales up to and including 31 March 2018 should be directed to HMRC.
You must pay LTT if you buy a property or land over a certain price in Wales.
The current LTT threshold is £250,000 for residential properties purchased at the main rates and £225,000 for non-residential land and properties.
There are different rules if you already own one or more residential properties and you may need to pay the higher residential rates. However, if you're replacing your main residence the higher rates may not apply.
You pay the tax when you:
How much you pay depends on whether the land or property is:
The tax rates and bands are set by the Welsh Government and approved by Welsh Parliament.
You can use our LTT calculator to work out how much tax you’ll pay.
You must send an LTT return to the WRA and pay the tax within 30 days of the day after completion (or other effective date of the transaction).
If you have a solicitor, agent or conveyancer, they’ll usually file your return and pay the tax on your behalf if you ask them to and add the amount to the sum you pay them.
If they do not do this for you, you can file a return and pay the tax yourself using the paper return.
You must file a return when you're entering into a notifiable transaction.
There are certain situations where you do not need to send a return to the WRA.
You do not have to pay LTT or file a return if:
You may be charged penalties and interest if you do not file your return and make your payment within 30 days of the day after completion (or other effective date of the transaction).