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Land transaction tax holiday

The Welsh Government has announced a Land Transaction Tax holiday for homebuyers in Wales from 27th July 2020 until 30th June 2021.

Wayford and Langdale at Bramley View

Land transaction tax holiday

The Welsh Government has announced that homebuyers in Wales will not have to pay tax on properties up to the value of £250,000 from 27th July 2020 until 30th June 2021, giving homebuyers a welcome boost after the recent lockdown period.
Land Transaction Tax table

What does the land transaction tax holiday mean?  

This means that the threshold for when you start paying Land Transaction Tax on a house purchase in Wales will increase from £180,000 to £250,000. This is a temporary measure from 27th July 2020 until 30th June 2021.

 
Child with piggy bank

 

Under these changes...

More than three quarters of homebuyers will pay no tax at all, an increase of 20% under the usual Land Transaction Tax measures. The change applies to both first time buyers and those moving on from an existing home alike, but it does not apply to the purchase of additional properties such as buy to lets or second homes.