Tag: second home
March 18 2022
Tax loophole on second homes to close
The government plans to introduce new rules preventing second homeowners from falsely claiming that their property is a holiday let. Secretary of State for Levelling Up Michael Gove has said that holiday lets will need to be rented out for at least 70 days per year to qualify for business rates. Otherwise, they will be...
March 02 2021
Understanding Land Transaction Tax (LTT) in Wales
If you’re buying a home in Wales, you won’t pay Stamp Duty Land Tax (SDLT) like in England or Northern Ireland. Instead, the transaction is subject to Land Transaction Tax (LTT), which applies to most residential property purchases. This includes first homes, second homes, and buy-to-let investments. How Land Transaction Tax Works LTT is a Welsh property tax applied on the...
