On 3 October 2017, the Welsh government announced its budget plans for 2018-19 and 2019-20. The budget plans include two new taxes, the land transaction tax (LTT) and the landfill disposals tax (LDT), which will replace the UK stamp duty land tax and landfill tax from April 2018 under taxing powers devolved to Wales. The planned bands and rates are as follows:
Residential LTT rates
- GBP 0 to 150,000 - 0%
- GBP 150,000 to 250,000 - 2.5%
- GBP 250,000 to 400,000 - 5%
- GBP 400,000 to 750,000 - 7.5…