Threshold increase for Welsh property tax
The Welsh finance secretary has announced that house sales up to a value of £150,000 will be tax free from next year. The scrapping of tax on homes costing between £125,000 and £150,000 was announced by Mark Drakeford and translates to a saving of almost £500 on the average house.
The revisions under the new Welsh land transaction tax (LTT) will also result in significantly higher rates for house sales above £400,000.
Full story available from BBC News: http://www.bbc.co.uk/news/uk-wales-politics-41471305