Gareth owns his home and is buying a £300,000 house in Swansea to let. Using the LTT higher residential rates in force from 11 December 2024, how much LTT is due?
LTT higher residential rates from 11 December 2024 (Welsh Revenue Authority): 5% on the first £180,000 = £9,000; 8.5% on £180,001-£250,000 = £5,950; 10% on £250,001-£300,000 = £5,000. Total £19,950. The higher-rate bands differ from the main-rate bands. £4,500 is the main-rate charge; £20,000 is the English SDLT higher-rates figure; £18,000 is 6% of the whole price.
Using the main-rate band edges, or England's figures, for Welsh higher rates.
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