The SDLT holiday extension was one of the worst-kept secrets ahead of the 2021 Spring Budget. However, there was no indication that the Welsh or Scottish governments had any plans to announce similar extensions. The Welsh government has now done so, extending the nil rate band for Land Transaction Tax (LTT) to 30 June 2021. The extension means that no LTT will be payable on residential purchases for consideration lower than £250,000 until after that date. However, unlike the SDLT extension there will be no transitional return to the standard level, with the threshold immediately returning to £180,000 from 1 July 2021. With the holiday being worth up to £2,450, the move will certainly help those who are struggling to complete transactions before the end of March but buyers should be aware that they will need to complete, not merely exchange contracts, by 30 June 2021 to avoid the cliff-edge.

So far, there is no indication that the Scottish government will follow suit and announce an extension, though this move from Cardiff will certainly put pressure on it to do so.