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Stamp Duty equivalent in Wales expected to be changed this week

The Welsh First Minister, Mark Drakeford, has suggested that there will be further housing market lockdown easing later this month.

His announcement has acknowledged the economic importance of restarting the housing market and signalled an intention to allow viewings of occupied properties from July 27, as long as current trends on infection rates and public health continue.

The First Minister went on to say that he is meeting Finance Minister Rebecca Evans to discuss Land Transaction Tax following the Chancellor's announcement on stamp duty in England last week.


An announcement on LTT - which is the Welsh equivalent of stamp duty - is expected later this week.

Currently in Wales no tax is paid on the first £180,000 of a property; however it increases to 3.5 per cent up to £250,000, 5.0 per cent up to £400,000, and then 7.5 per cent up to £750,000. 

Buyers in England and Northern Ireland buying property under £500,000 currently pay no stamp duty until the end of March 2021.


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