Land Transaction Tax
LTT on £650,000 in Wales
Buying a £650,000 main residence in Wales costs £29,250 in Land Transaction Tax (LTT), an effective rate of 4.50%. Here is what every type of buyer pays.
By Buyer Type
| Buyer | LTT | Effective rate | Notes |
|---|---|---|---|
| Main residence (including first-time buyers) | £29,250 | 4.50% | Main residential rates; Wales has no separate first-time buyer relief. |
| Second home or buy-to-let | £61,200 | 9.41% | Higher residential rates apply to every band. |
How It Is Worked Out (Main Residence)
| £0 to £225,000 at 0% | £0 |
| £225,000 to £400,000 at 6% | £10,500 |
| £400,000 to £650,000 at 7.5% | £18,750 |
| Total | £29,250 |
Stamp duty on £650,000 in England · LBTT on £650,000 in Scotland
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How much LTT does a main residence (including first-time buyers) pay on £650,000?
£29,250, an effective rate of 4.50%. Main residential rates; Wales has no separate first-time buyer relief.
How much LTT does a second home or buy-to-let pay on £650,000?
£61,200, an effective rate of 9.41%. Higher residential rates apply to every band.
Is LTT more than stamp duty in England on £650,000?
A main-residence buyer pays £29,250 in Wales, against £22,500 in stamp duty in England and Northern Ireland at the same price.
Welsh residential LTT main rates and higher rates (higher rates from 11 December 2024). Wales has no first-time buyer relief or non-resident surcharge. A guide, not tax advice: your solicitor confirms the final figure.