Wales politics

First Welsh tax law for almost 800 years gets Royal Assent

A row of terraced houses in Cardiff

Legislation on the Welsh replacement for stamp duty land tax - the first new Welsh tax law for almost 800 years - has entered the statute books.

The law, which has been given Royal Assent, establishes a new land transaction tax, which will replace stamp duty from April 2018.

First Minister Carwyn Jones said the act was a "significant step" for devolution.

Rates of the new tax are due to be announced by October this year.

Assembly members approved the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill earlier in the year.

Stamp duty is paid when property or land is bought over a certain price.

Officials previously said that the document was the longest piece of legislation Welsh ministers have produced.

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