Land Transaction Tax (LTT) is the property purchase tax in Wales, replacing Stamp Duty Land Tax (SDLT) since April 2018. If you're buying a property in Wales, LTT applies rather than SDLT.
How LTT works
Like SDLT, LTT uses a tiered band structure — each portion of the purchase price is taxed at the relevant rate. Rates and thresholds are set by the Welsh Government and differ from the SDLT rates in England. Always check the current rates at gov.wales.
Higher rates
A higher rate surcharge applies to additional residential properties in Wales, including second homes and buy-to-let purchases. Wales has periodically amended this surcharge rate.
Who administers it
LTT is administered by the Welsh Revenue Authority (WRA), not HMRC. Your solicitor will file and pay LTT as part of the conveyancing process.