Glossary · UK
What is LTT?
Land Transaction Tax — Wales' equivalent of Stamp Duty.
Full Definition
LTT (Land Transaction Tax) replaced SDLT in Wales on 1 April 2018. The zero-rate threshold is £225,000 — the highest in the UK. Above that, the rates are 6% (£225–400k), 7.5% (£400–750k), 10% (£750k–1.5m) and 12% (above £1.5m). Unlike England and Scotland, Wales does NOT offer first-time buyer relief on LTT (but the high starting threshold means most first-time buyers pay nothing anyway). Higher rates of 5%–17% apply for additional residential properties. Administered by the Welsh Revenue Authority.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.