Additional rate of stamp duty for second homes in Wales

A higher rate of tax for additional residential properties will continue to be levied in Wales when stamp duty land tax is devolved in April 2018 the Cabinet Secretary for Finance and Local Government in the Welsh Government Mark Drakeford has confirmed.

The higher rate (3%) for additional residential properties came into force in the UK on 1 April 2016. A similar rate also applies in Scotland.

In summer the Welsh government consulted about how the higher rate could be adapted to make it better suited to Wales. The suggestions included calls to consider the impact and use of long-term empty properties to be bought back to be used as affordable housing.

As a result government amendments will be brought forward at stage two of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill which is going through the national assembly. These will...