Tax Rates and Allowances 2022/23
Land Transaction Tax
Capital Allowances - Plant & Machinery ⭢
Employee's Statutory Payments ⭢
Income Tax Rates - Across the UK ⭢
Individual Savings Account (ISA) ⭢
Land and Buildings Transaction Tax ⭢
Land Transaction Tax ⭢
Mileage Allowance Payments (MAPs) for Employees ⭢
National Insurance Contributions (NIC) - Rates and Allowances ⭢
Pensions Automatic Enrolment ⭢
Pensions - Tax Relief on Pension Contributions ⭢
Vehicle Excise Duty (VED) - Passenger Cars ⭢
Land Transaction Tax (LTT) is payable on land and property transactions in Wales.
LTT (Residential property)
| Consideration (£) | Rate |
|---|---|
| 0 - 180,000 | 0% |
| 180,001 - 250,000 | 3.5% |
| 250,001 - 400,000 | 5% |
| 400,001 - 750,000 | 7.5% |
| 750,001 - 1,500,000 | 10% |
| 1,500,000 and above | 12% |
The rates apply to the portion of the total value which falls within each band.
Residential rates may be increased by 4% where further residential properties costing over £40,000 or over are acquired.
Higher residential tax rates
Higher residential rates may apply when you already own one or more residential properties.
| Consideration (£) | Rate |
|---|---|
| 0 - 180,000 | 4% |
| 180,001 - 250,000 | 7.5% |
| 250,001 - 400,000 | 9% |
| 400,001 - 750,000 | 11.5% |
| 750,001 - 1,500,000 | 14% |
| 1,500,000 and above | 16% |
The rates apply to the portion of the total value which falls within each band.
LTT (Non-residential)
| Consideration (£) | Rate |
|---|---|
| 0 - 225,000 | 0% |
| 225,001 - 250,000 | 1% |
| 250,001 - 1,000,000 | 5% |
| Over 1,000,000 | 6% |
The rates apply to the portion of the total value which falls within each band.