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
Buying a Welsh home following surprise Land Transaction Tax increase
As well as the Welsh Government’s surprise raising of the rate of transaction tax on the purchase of second homes, the Land Transaction Tax (LTT) holiday in respect of main residences is due to end on 31 March 2021. For those thinking about buying a property in Wales, tax is likely to be a hot...
