Fact sheet: 'Replacement of Domestic Items’ relief for landlords

Propertymark has responded to the Welsh Government’s consultation, which looks at changes to the way holiday lets are assessed for business rates and Council Tax. The consultation considers averaging days let over multiple years, recognising charitable donations, and introducing transitional arrangements for properties moving from non-domestic rates to Council Tax.

Propertymark has responded to the Welsh Government’s Draft Budget for 2026–27 with a warning that without tax reform, the continued loss of landlords will deepen affordability issues for tenants and increase pressure on local authorities to house more people in the social sector. A vibrant private rented sector (PRS), alongside investment in social and affordable housing, is essential to meet demand and ensure all people in Wales have access to decent and secure homes.

Any newly self-employed agents, those earning untaxed income, or receiving income outside PAYE who need to complete a tax return for the first time for the 2024-2025 tax year, must register with HMRC by 5 October 2025.

Property agents in Wales could face a landscape where changes to Land Transaction Tax (LTT) occur with far less notice, under new proposals from the Welsh Government that include options for streamlining how tax laws are updated, including those governing property transactions. The proposals, open for response until 28 November 2025, could have significant implications for agents and their clients.