Roger Parry & Partners

Roger Parry & Partners welcome Welsh Government's announcement to cut Land Transaction Tax

Published on 16-07-2020 by Sarah Jones

Welcoming Welsh Government announcement to cut Land Transaction Tax

We have warmly welcomed the Welsh Government’s announcement to cut Land Transaction Tax in Wales.

Finance Minister, Rebecca Evans, made the announcement at the Welsh Government daily Coronavirus briefing. The announcement will result in approximately 80% of house sales being exempt from paying tax.

Clare Williams, Associate in Roger Parry & Partners Llanidloes office, said, “We warmly welcome the Finance Minister’s announcement regarding the reduction in Land Transaction Tax. It follows last week’s decision by the Westminster Government to reduce Stamp Duty in England and means our clients in Wales are now on a more level playing field when it comes to buying a property. We hope this injects some confidence back into the property market.”  

The announcement will bring the rate payable for properties valued at between £180,000 and £250,000 to zero from 27 July until the end of March 2021. Properties selling for less than £180,000 are already exempt from paying the tax. The change will not apply to second homes or buy-to-let properties, which have to pay an additional 3% in tax on top of the existing rate for their value.

Those looking to buy or sell a property with Roger Parry & Partners can rest assured that strict procedures are in place to keep house hunters and vendors safe. The firm is highly recommending an initial virtual viewing before a second appointment is arranged in person. Viewings will adhere to strict social distancing rules and occupants will be asked to vacate the property during viewings.   

All Roger Parry & Partners’ offices are now back open. Please contact your local office, details are below.

Shrewsbury Residential Office

Shrewsbury Residential Office

Welsh Bridge
Frankwell
Shrewsbury
SY3 8LG

01743 343 343

shrewsbury@rogerparry.net

Shrewsbury Agricultural & Professional Office

Shrewsbury Agricultural & Professional Office

Hogstow Hall
Minsterley
Shrewsbury
SY5 0HZ

01743 791 336

mail@rogerparry.net

Oswestry Office

Oswestry Office

The Estates Office
20 Salop Road
Oswestry
SY11 2NU

01691 655 334

oswestry@rogerparry.net

Welshpool Office

Welshpool Office

1 Berriew Street
Welshpool
Powys
SY21 7SQ

01938 554 499

welshpool@rogerparry.net

Llanidloes Office

Llanidloes Office

1 Great Oak Street
Llanidloes
Powys
SY18 6EQ

01686 449 222

llanidloes@rogerparry.net