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Multiple dwellings relief to be abolished in Wales

12 April 2024
Issue: 4932 / Categories: News

The Welsh government is consulting on proposals to abolish land transaction tax multiple dwellings relief. This comes in light of the UK government's decision to abolish stamp duty land tax multiple dwellings relief in England from 1 June which will result in a reduction to the Welsh block grant from the date the new measure comes into effect estimated to be up to £8m a year over the coming years. The Welsh government anticipates the proposed abolition of land transaction tax multiple dwellings relief would broadly offset the impact to the Welsh block grant of the abolition of multiple dwellings relief in England.

The consultation also considers the extension of an existing relief to Welsh local authorities when purchasing property for social housing purpose the rules relating to the purchase of six or more dwellings in a single transaction as well as other...

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