The restoration of tax-raising powers to Wales after several centuries marks a significant step on the devolution path. But while the new land transaction tax (LTT) incorporates many of the principles of stamp duty land tax (SDLT), different amounts of tax will be payable on property transactions from April depending on whether the property is situated in England or in Wales. At the time of writing, we still await much of the paraphernalia that the new tax will inevitably require. There is no official online LTT calculator and we have not seen the form of the return that will have to be submitted. The ‘detailed guidance’ on the website of the newly-created Welsh Revenue Authority does not yet reach 100 words. But we do at least now know how much tax is going to be payable, subject to ratification by the National Assembly. The Welsh Government originally published its proposed rates and bands for LTT in October 2017. However, in December 2017 it revised its proposals for residential purchases in light of the SDLT relief for first-time buyers introduced by the autumn statement. Since the price paid by the average first-time buyer in Wales (a little over £130,000) is much lower than in England, Wales has responded by increasing the nil-rate band for everyone rather than giving specific relief to first-time buyers.