Math Problem Solver

James Said He wants to buy a new apartment in Wales.

He knows that Land Transaction Tax will be added to the price of the apartment.

Land Transaction Tax rates are shown below:

• pay nothing on the first £225 000 of the price of the apartment,

• pay 6% on the part of the price of the apartment that is above £225 000 and up to and including £400 000,

• pay 7.5% on the part of the price of the apartment that is above £400 000 and up to and including £750 000,

• pay 10% on the part of the price of the apartment that is above £750 000 and up to and including £1 500 000.

Find the Land Transaction Tax payable on an apartment costing £275 000.