My Redrow Sign In / Register Redrow Find a new home My Redrow Buying with Redrow Inspiration Contact us Customer Support News ADVANCED SEARCH Learn more about Land Transaction Tax The Welsh Government have announced changes to the residential rates and bands of Land Transaction Tax. Meaning the house you thought was out of reach could be more affordable than you think. Discover all you need to know about Land Transaction Tax and how much you may need to pay when purchasing your new home by using our Land Transaction Tax payment calculator. What is Land Transaction Tax? Land Transaction Tax (LTT), is a tax due on all residential property and land purchases in Wales, new or pre-owned, costing more than £250,000 (or more than £40,000 for second homes) until 31 March 2021. Please note tax rates differ between England and Wales. How much will I have to pay? If the property you are purchasing is your main residence and is below £250,000 you won’t need to pay any Land Transaction Tax. However, if it is over this, there are several rate bands. The tax is calculated on the part of the property purchase price falling within each band. Use the calculator below to work out how much Land Transaction Tax you will need to pay on your new home. Land Transaction Tax on second or buy-to-let homes If you already have a residential property, and are looking to purchase an additional property such as second home or a buy-to-let property, you will be charged an extra 3% in Land Transaction Tax on top of the current rates for each band, but properties costing £40,000 or less are exempt. Land Transaction Tax Rates HOUSE PRICE (MINIMUM) HOUSE PRICE (MAXIMUM) LAND TRANSACTION TAX RATE £0 £250,000 0% £250,001 £400,000 5% £400,001 £750,000 7.5% £750,001 £1.5 million 10% Over £1.5 million - 12% Work out the cost of Land Transaction Tax Property value Required LTT £0 Find your new Redrow home USE YOUR CURRENT LOCATION or VIEW EVERYWHERE WE BUILD Ways to help you move Discover how easy and affordable moving into a new Redrow home can be when you use our range of incentives that are designed to help you move. HELP TO SELL Sell, save and move with Help to Sell A beautiful new home and an assisted move from a company you can trust. Help to Sell is a scheme that help you to have an easy move. FIND OUT MORE HELP TO BUY Move into your new home with Help to Buy Make the most of this Government-backed scheme for Help to Buy homes and move into your Redrow new build home with as little as a 5% depo... FIND OUT MORE PRIME POSITION Be the first to reserve your new home with Prime Position Reserve your Redrow home before its official release for sale with no obligation to proceed if you change your mind. FIND OUT MORE Explore Redrow Find your home My Redrow Awards Incentives Help to Buy About Redrow About us Contact us Newsroom Corporate media Investor relations Land Sustainability Careers Modern Slavery Statement Award Winning Awarded five star customer satisfaction from the HBF in an independent survey 2021. Follow Us Our social team are available to deal with any queries on Facebook and Twitter between the hours of 9am - 5pm, Monday to Friday, excluding bank holidays. Privacy Notice Cookie Policy Accessibility T&C Copyright © 2021 Redrow All Rights Reserved COOKIE MANAGEMENT To help provide a smooth, easy and personalised experience when browsing our website, we use cookies. You may choose to agree to all or set your own preferences in manage settings. Please consider that by not accepting some of the cookies you limit the functionalities of the website and some content may not work properly. Once set, you can change your preference at any time as described in our Privacy Policy and Cookie Policy. MANAGE SETTINGS ACCEPT ALL COOKIES