The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025
Background
The Land Transaction Tax (LTT) is a tax on the purchase of land and property in Wales. It was introduced in 2018, replacing the previous Stamp Duty Land Tax (SDLT).
One of the reliefs available under LTT is relief for acquisitions involving multiple dwellings. This relief reduces the amount of LTT payable on the purchase of a property that contains multiple dwellings, such as a house with a self-contained flat.
The New Regulations
The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025 amend the existing relief for acquisitions involving multiple dwellings. The main changes are as follows:
- The relief is now only available on the purchase of properties that contain three or more dwellings.
- The relief is calculated by reference to the number of dwellings in the property, rather than the total purchase price.
- The maximum amount of relief available is £25,000.
Impact of the New Regulations
The new regulations will have a significant impact on the amount of LTT payable on the purchase of properties that contain multiple dwellings. For example, the relief will no longer be available on the purchase of a house with a self-contained flat.
The new regulations are likely to make it more expensive to purchase properties that contain multiple dwellings. This could have a negative impact on the housing market in Wales.
Conclusion
The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025 are a significant change to the LTT regime. The changes are likely to have a negative impact on the housing market in Wales.
Relevant Information
- The new regulations come into force on 6 February 2025.
- The full text of the new regulations can be found on the Welsh Government website.
- For more information on LTT, please visit the Welsh Revenue Authority website.
The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025 / Rheoliadau Treth Trafodiadau Tir (Addasu Rhyddhad ar gyfer Caffaeliadau sy’n Ymwneud ag Anheddau Lluosog) (Cymru) 2025
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