15 Jul REDUCTION IN LAND TRANSACTION TAX

The Welsh Government have now announced the concessions that are to be made in the liability to Land Transaction Tax, which replaced Stamp Duty, in Wales.

This duty is payable on completion of the purchase of a property and will apply to all completions, from the 27th July 2020.

As you will see from the link to the official statement, there will be no tax below £250,000 and a marginal saving on the upper rate to £400,000, which will start to be calculated on values above £250,000, instead of formerly, £180,000.

Land Transaction Rates, new, July 2020