Changes to Stamp Duty introduction of the Land Transaction Tax

1 February 2018

The Autumn Budget of 2017 brought the announcement that Stamp Duty was to be abolished for first-time buyers in Wales, England and Northern Ireland who purchase a property of up to £300,000. Current homeowners looking to move home in England, Wales and Northern Ireland will also see the benefit of not paying Stamp Duty on a property up to the value of £125,000.


First time buyers in Wales have until 1st April to make the most of the new Stamp Duty rates, as the current scheme is due to be replaced with the Land Transaction Tax (LTT), which was introduced by the Welsh Government in December 2017. Under the new system, the threshold for paying property tax will start at £180,000.


Below you’ll find the current Stamp Duty rates for England, Wales and Northern Ireland, the current rates for first time buyers, and the new LTT rates being introduced to Wales on April 1st:


New Stamp Duty rates for England, Wales (up to 1st April 2018) and Northern Ireland for first time buyers (A/O 22nd November 2017):


Price Threshold:                                         Main Residential Rates:


£0 - £300,000                                                0%

£300,001 - £500,000                                      5%

£500,001 - £925,000                                      5%

£925,001 - £1.5 million                                  10%

Above £1.5 million                                        12%



New Stamp Duty rates for England, Wales and Northern Ireland (A/O 22nd November 2017):


Price Threshold:                                           Main Residential Rates:


£0 - £125,000                                                  0%

£125,000 - £250,000                                        2%

£250,001 - £925,000                                        5%

£925,001 - £1.5 million                                   10%

Above £1.5 million                                          12%                         



New Land Transaction Tax rates in Wales from April 2018:


Price Threshold:                                            Main Residential Rates:

£0 - £180,000                                                  0%

£180,000 - £250,000                                        3.5%

£250,000 - £400,000                                        5%

£400,000 - £750,000                                        7.5%

£750,000 – £1.5 million                                   10%

Above £1.5 million                                          12%

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