People buying homes in Wales for less than £225,000 will pay no tax, under new measures announced by the Finance Minister. The threshold for paying Land Transaction Tax (previously known as stamp duty) is being increased from £180,000 and the change will come into force from October 10.
There will also be a small increase in the rate of Land Transaction Tax for homes that cost more than £345,000. The Welsh Government has said that the move is intended to ensure that the threshold for paying tax reflects the rise in the prices of homes over the last two years.
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