LAND TRANSACTION TAX CALCULATOR (WALES)

Last updated

Now that the Welsh government has announced the first set of rates and bands for the forthcoming (April 2018) Land Transaction Tax (LTT), you can calculate LTT for the first time using this Land Transaction Tax calculator.

At this point (due to the limited information officially released), Land Transaction Tax calculations are confined to residential, freehold property transactions undertaken by a private individual (as opposed to a company).

You can use the Quick Calculator on this page to work out LTT due on such transactions and, via the toggle switch on the widget, compare it with existing SDLT.

Finally, if you need to calculate SDLT or LBTT - either quickly (common conditions) or in detail - visit the Home Page of this website.

QUICK CALCULATOR*

 

Switch between LTT & SDLT

LTT

* Assumes that the transaction is residential and freehold, and that the buyer is a private individual.

LTT compared with SDLT


All of the graphs below refer to standard residential rates, with the transactions being undertaken by private individuals.

Graph: SDLT-LTT Comparison (Standard Residential Rates)


As the transaction price is split up into the various bands it transcends and the stamp duty rate for each respective band is applied to the amount of the transaction price within each band, an overall de facto stamp rate emerges for any given transaction price, as shown in the graph below.




Graph: SDLT-LTT Comparison (Cumulative, de facto Stamp Due)


The actual stamp tax due for any given transaction price is plotted below. If you are a prospective buyer of mid-to-high priced property in Wales, you might want to expedite it now while SDLT rates still apply.



Graph: SDLT-LTT Comparison (Tax Payable)


LAND TRANSACTION TAX RATES (Wales only, from April 2018)
Buyer: private person or company
Property: residential
Price of property LTT rate
LTT rate
(2nd home or BTL)
up to £180K 0% 3%
£180K+ to £250K 3.5% 6.5%
£250K+ to £400K 5% 8%
£400K+ to £750K 7.5% 10.5%
£750K+ to £1.5M 10% 13%
£1.5M+ 12% 15%


EXISTING STAMP DUTY LAND TAX RATES
Buyer: private person or company
Property: residential
Price of property SDLT rate
SDLT rate
(2nd home or BTL)
up to £125K 0% 3%
£125K+ to £250K 2% 5%
£250K+ to £925K 5% 8%
£925K+ to £1.5M 10% 13%
£1.5M+ 12% 15%

NOTE: For comparisons with Scotland's LBTT as well, see the graphs at the bottom of the Stamp Duty Rates page.