LTT on a £550,000 house in Wales
Buying a £550,000 home in Wales? A home mover pays £21,750 Land Transaction Tax, 3.95% of the price.
- Main rates
- £21,750
- Second home or buy-to-let
- £48,700
- Same price in England
- £17,500
- HMRC 2026/27 rates
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LTT on a £550,000 property in Wales is £21,750 for a home mover and £48,700 for a second home or buy-to-let.
How £21,750 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 £550,000 | 8% | £11,250 |
| Total stamp duty | 3.95% | £21,750 |
£550,000 across the UK
Property tax on a home mover's £550,000 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 £550,000 purchase
With a 10% deposit you would borrow about £495,000. At 4.5% over 25 years that is £2,751 a month (see a £490,000 mortgage). Most lenders would want a household income of around £110,000: what £110,000 can borrow.
LTT on nearby prices
Questions people ask
Do first-time buyers pay less LTT on £550,000?
No. Wales has no first-time buyer relief, so first-time buyers pay the same £21,750 as anyone else. The nil rate band is already £225,000 for everyone.
How much LTT is due on a £550,000 second home or buy-to-let?
£48,700, using the higher residential rates that start at 5% from the first pound.
How does Wales compare with England on £550,000?
In England a home mover pays £17,500 stamp duty on £550,000, £4,250 less than the £21,750 LTT in Wales.