Welsh government increases charge on some residential property purchases

Published: 18th December 2024

Wales has a devolved government with limited powers to make and amend tax law. One tax that is fully devolved is land transaction tax – the equivalent of stamp duty land tax for land and buildings physically located in Wales. The 2025/26 Welsh Budget included the announcement that higher rates, i.e. those that apply to purchases of additional dwellings by an individual (or any purchase by a company), will increase by 1% with effect from 11 December 2024. The rates, which apply to the consideration at the date of completion, are now as follows:

No change has been made to the Welsh rate of income tax meaning that Welsh taxpayers remain aligned with the main UK rates for at least another year.