Threshold increase for Welsh property tax

tax cut on Welsh house sales
Tax on homes costing between £125,000 and £150,000 to be scrapped

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

 

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