BTL in Wales…Land Tax

gazfocus

So another option I’m looking at is buying a BTL in wales. I’m aware there are stricter rules in Wales and am in the process of researching whether or not it’s a viable proposition. 

Now, one thing I can’t seem to find an answer to, is Wales government have introduced a 4% LTT for “second homes and investors buying properties”. 

If the BTL is my only property, will I still pay the 4% LTT as an ‘investor’ or does it work in the same way as the UK where the first property is exempt from the additional 3% Stamp Duty?

user1977

gazfocus said:

Wales government have introduced a 4% LTT for “second homes and investors buying properties”.

Where are you getting that quote from? It's on additional residential properties, so similar to SDLT and LBTT. Rather than rely on sloppy journalism, you'd be better to go to the Welsh Revenue Authority's website for full and accurate details, including this handy calculator: https://www.gov.wales/land-transaction-tax-calculator

does it work in the same way as the UK

I know they talk funny, but Wales is still part of the UK...

Sarah1Mitty2

They have devolved powers though, the same as Scotland, so the question is a fair one. Scotland recently froze rents and evictions, this didn`t happen in England, so maybe all in the UK but the rules are slightly different.