The Welsh Revenue Authority has published its guidance for the end of the LTT concession at the end of this month, with the last date for the reduction commencing on 30 June 2021.
As previously announced by Welsh Government, the nil rate band of Land Transaction Tax (LTT) for residential property transactions will revert to £180,000 on 1 July 2021.
There are no transitional rules. A transaction will need to have completed before Thursday 1 July 2021 to use the temporary increase to the nil rate band.
The WRA’s LTT calculator, services and guidance reflect this change.
For more information, please click here.