LTT on a £1,000,000 house in Wales
Buying a £1,000,000 home in Wales? A home mover pays £61,750 Land Transaction Tax, 6.18% of the price.
- Main rates
- £61,750
- Second home or buy-to-let
- £111,200
- Same price in England
- £43,750
- HMRC 2026/27 rates
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LTT on a £1,000,000 property in Wales is £61,750 for a home mover and £111,200 for a second home or buy-to-let.
How £61,750 is worked out
| Portion of the price | Rate | Tax |
|---|---|---|
| £0 to £225,000 | 0% | £0 |
| £225,000 to £400,000 | 6% | £10,500 |
| £400,000 to £750,000 | 8% | £26,250 |
| £750,000 to £1,000,000 | 10% | £25,000 |
| Total stamp duty | 6.18% | £61,750 |
£1,000,000 across the UK
Property tax on a home mover's £1,000,000 purchase in each nation. Wales has the highest nil rate band at £225,000, so cheaper homes pay less than in England.
The rest of a £1,000,000 purchase
With a 10% deposit you would borrow about £900,000. At 4.5% over 25 years that is £5,002 a month (see a £900,000 mortgage). Most lenders would want a household income of around £150,000: what £150,000 can borrow.
LTT on nearby prices
Questions people ask
Do first-time buyers pay less LTT on £1,000,000?
No. Wales has no first-time buyer relief, so first-time buyers pay the same £61,750 as anyone else. The nil rate band is already £225,000 for everyone.
How much LTT is due on a £1,000,000 second home or buy-to-let?
£111,200, using the higher residential rates that start at 5% from the first pound.
How does Wales compare with England on £1,000,000?
In England a home mover pays £43,750 stamp duty on £1,000,000, £18,000 less than the £61,750 LTT in Wales.