Chepstow | 01291 626262
Usk | 01291 672212
Ross-on-Wye | 01989 768484
Monmouth | 01600 713030
Newport | 01633 449884
Forest of Dean | 01594 715888
Associated Park Lane Office
0203 368 8745
Recently, Finance Minister, Rebecca Evans, announced the new temporary changes to Land Transaction Tax (LTT) in Wales. As of 27 July 2020, any properties valued up to £250,000 will require no LTT to be paid. These changes will apply and run up until 31 March 2021.
Prior to 27 July 2020, there is no tax payable on properties in Wales valued up to £180,000. The Government will now extend this threshold to £250,000. The rates then increase to 5% up to the property value of £400,000, 7.5% up to £750,000, 10% up to £1,500,000 with any amount thereafter taxed at 12%.
Visit gov.wales for more information
A 4% surcharge applies to all transactions on or after 22 December 2020, involving the purchase of an additional property. This includes second homes and buy-to-let investments. The surcharge applies to the full purchase price above an initial threshold of £40,000.
Visit gov.wales for more information
If you are replacing your main residence, the higher rates may not apply.
Specific first-time buyer relief is not currently available under the LTT system.
If you are looking to buy or sell your home today, contact your local Guild Member today.
Chepstow | 01291 626262
Usk | 01291 672212
Ross-on-Wye | 01989 768484
Monmouth | 01600 713030
Newport | 01633 449884
Forest of Dean | 01594 715888
Associated Park Lane Office
0203 368 8745
We are fortunate to sell and let a huge variety of property in one of the most beautiful regions of Britain. Set within glorious unspoilt countryside straddling the English Welsh borders are picturesque villages.