We highlighted the main aspects of last weeks mini budget. If you missed it, click here to find out what the mini budget means for your finance. The Chancellor spoke of Stamp duty and how he intends to support 200,000 home buyers from paying any tax on when they buy a house. In England, no stamp duty is paid currently on first £250,000 and for first time buyers, this is increased to £425,000.

The Welsh government have also followed and raised the threshold on Stamp duty here in Wales. Officially known as Land Transaction Tax, this is paid if you buy a property or land over certain price threshold in Wales.

If you already own one or more residential properties, then there are different rules, and you may need to pay the higher residential rates. However, if you’re replacing your main residence, the higher rates may not apply. 

The new Land Transaction Tax thresholds are to come in on 10th October 2022.

Purchase Price Bands (£)

Percentage Rate (%)

Up to 225,000


Above 225,000 and up to 400,000


Above 400,000 and up to 750,000


Above 750,000 and up to 1,500,000


Above 1,500,000


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