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From 1st April 2108, in Wales, Stamp Duty Land Tax (SDLT) will be replaced by Land Transaction Tax (LTT).

The framework is similar to LTT but the rages and amounts differ.

The following is prepared as a guide only. Prospective purchasers should obtain detailed advice before committing to a purchase.

 

After 1st April 2018 - Land Transaction Tax (LTT)

 A handy calculator for the amount payable is available here

Price Paid  LTLT Rate    LTT 2nd Property
 up to £180,000  0%  3%
 £180,000+ to £250,000  3.5%  6.5%
 £250,000+ to £400,000  5%  8%
 £400,000+ to £750,000  7.5%  10.5%
 £750,000+ to £1.5M  10%  13%
Over £1.5M+ 12% 15%

If you buy a property for more than £180,000, you pay Land Transaction Tax (LTT). The amount payable depends on the purchase price of the property.

Also from 1st April 2016 there is an additional 3% stamp duty on all buy to let purchases and on the purchase of a second home.

 

Before 1st April 2018 - Stamp Duty Land Tax (SDLT)

 

 

If you buy a property for more than £125,000, you will pay Stamp Duty Land Tax (SDLT).

The amount payable depends on the purchase price of the property.

You don’t pay any SDLT if you pay £125,000 or less for your home purchase. (There will be 3% to pay if it is a buy to let or second home purchase)

Please refer to the tables below to see how much you will have to pay - depending on type of property and the price.

You will only pay the rate of tax on the part of the property price within each tax band – like income tax apart from the 3% addition which alpplies to the whole purchase price of a property which is not your main residence).

Residential properties SDLT rates

Purchase price of property  - Rate of SDLT (add the amount of the percentage of the total purchase price in each band) 

Price Range Tax (Home purchase) Add (if Second Home or Buy-to-let After 1st April) Total tax
£0 - £125,000 0% 3% 3%
£125,001 - £250,000 2% 3% 5%
£250,001 - £925,000 5% 3% 8%
£925,001 - £1.5 million 10% 13% 13%
Over £1.5 million 12% 15% 15%

Examples:

On a £150,000 house purchase there will be no tax to pay on the first £125,000, then 2% on the remaining £25,000, which is a total bill of £500. If the purchase is a property to let or a second home add 3% to the total. (£500 + £4,500 = £5,000.)

On a purchase of £185,000. Nothing on the first £125,000 and 2% on the remaining £60,000. This works out as £1,200. However, if the purchase is not your main residence (sccond home or a property you will let out) there is an additional 3% of the whole sum to pay (£1,200 + £5,550 = £6,750)

On a £300,000 house purchase there would be no tax to pay on the first £125,000, then 2% on the next £125,000 (£2,500) and 5% on the last £50,000 (£2,500). That’s a total £5,000. If the purchase is a second home there is an additional 3% on the whole purchase price (£5,000 + £9,000 = £14,000)

The above information is to provided as a guide and should not be relied upon by buyers or sellars - please take advice before making any commitment to buy or sell.


Please note the  Disadvantaged Areas Relief for properties between £125,000 and £150,000 has been removed.

Non - Residential properties

Transfer value  - Rate of SDLT (percentage of the total purchase price)

The changes from December 2014 do not affect Commercial property which remain as follows:

Up to £150,000 - annual rent is less than £1,000 = Zero
Up to £150,000 - annual rent is £1,000 or more = 1%
Over £150,000 to £250,000 = 1%
Over £250,000 to £500,000 = 3%
Over £500,000 = 4%


The above information is to provided as a guide and should not be relied upon by buyers or sellars - please take advice before making any commitment to buy or sell.