Page 37 - Budget Newsletter - March 2023

• First-time buyers: to 22 September 2022, first £300,000 slice of value at 0% if property
consideration is not more than £500,000; from 23 September 2022, first £425,000 slice of
value at 0% if property consideration is not more than £625,000.
• All rates increased by 3% for purchase of additional residential property if value is £40,000 or
more.
• All rates increased by 2% for purchase of residential property by non-UK resident if value is
£40,000.

Scotland: LBTT from 1 April 2021 on slices of value

Residential property % Commercial property %
¶

£145,000* or less 0 £150,000 or less 0
£145,001* to £250,000 2 £150,001 to £250,000 1
£250,001 to £325,000 5 Over £250,000 5
£325,001 to £750,000 10
Over £750,000 12

¶ All rates increased by 4% for purchase of additional residential property if value is £40,000 or
more.
* £175,000 for first-time buyers.

Wales: LTT from 10 October 2022

Residential (on slice of value) % Commercial (on slice of value) %
¶

£225,000 or less 0 £225,000 or less 0
£225,001 to £250,000 1
£225,001 to £400,000 6 £250,001 to £1,000,000 5
£400,001 - £750,000 7.5 Over £1,000,000 6
£750,001 to £1,500,000 10
Over £1,500,000 12

¶ All rates increased by 4% for purchase of additional residential property if value is £40,000 or
more.

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