WSI 2020/794 – The Land Transaction Tax (Temporary Variation of Rates and Bands for Residential Property Transactions) (Wales) Regulations 2020

Released 24 July 2020

WSI 2020/794 temporarily increases the LTT nil rate tax band for residential property transactions from 27 July 2020 until 1 April 2021.

The Land Transaction Tax (Temporary Variation of Rates and Bands for Residential Property Transactions) (Wales) Regulations 2020 amend the Land Transaction Tax (Tax Bands and Tax Rates) (Wales) Regulations 2018 (WSI 2018/128) to provide for a temporary variation to the tax bands and percentage tax rates of land transaction tax applicable to chargeable residential property transactions with an effective date on or after 27 July 2020 but before 1 April 2021, with the effect of increasing to the nil rate band from £180,000 to £250,000. The regulations come into force on 27 July 2020.

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