Land Transaction Tax Changes in Wales

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The key details of the move are:

• People buying homes under £225,000 will not pay any Land Transaction Tax.

• Anyone buying a home costing less than £345,000 will see a reduction in the tax they pay, up to a maximum of £1,575.

• People buying homes worth more than £345,000 will see an increase – up to £550 – but these only represent around 15% of property transactions in Wales.

These come into effect from 10^th October 2022