The Nil Rate Band of Land Transaction Tax

Part of 1. Questions to the Minister for Finance and Trefnydd – in the Senedd at 1:56 pm on 17 March 2021.

Alert me about debates like this

Photo of Rebecca Evans Rebecca Evans Labour 1:56, 17 March 2021

Well, all of these rates and bands across the Welsh taxes are kept constantly under review. The extension of the LTT reduction is expected to benefit around 4,000 additional homebuyers here in Wales, and up to and including January, around 10,000 homebuyers have already benefited from the temporary reduction that I announced last year. So, a significant number of households have already benefited from it, and actually only around a quarter of house buyers at the moment are actually paying any land transaction tax as a result of the decisions taken last year in this respect. But, as I say, when the normal—if you like—rates do return, we will still have a relatively generous situation here in Wales.