As the Gavin and Stacey speculation continues in the run-up to this year’s Christmas special, an all-important question remains, who will win the battle over where they will live? Will Stacey remain strong and settle down roots in Wales or will they move across the bridge to England to be closer to Gavin’s parents? Well, wherever they decide, there will be tax implications.
When purchasing a property or land in England or Wales, tax will be payable on the consideration which is the purchase price paid for the property but also includes other sums such as VAT. Since we last saw Gavin and Stacey on our screens, the way tax is dealt with in Wales has changed. Prior to 1 April 2018, both countries would pay Stamp Duty Land Tax, however, this has since been replaced in Wales with Land Transaction Tax (LTT). Both taxes essentially do the same job but the finer details vary as outlined below.