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Land Transaction Tax
| Taxation in Wales |
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| UK Government Departments |
| Welsh taxation |
| Local taxation |
| UK Government |
| This article is part of a series within the Politics of the United Kingdom on the |
| Politics of Wales |
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Land Transaction Tax (LTT) (Welsh: Treth Trafodiadau Tir (TTT)) is a property tax in Wales. It replaced the Stamp Duty Land Tax from 1 April 2018.[1] It became the first Welsh tax in almost 800 years.[2]
LTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired. Under the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, a land transaction must be notified to the Welsh Revenue Authority unless it falls within one of the exempt categories contained in the Act.[3]
The Welsh Revenue Authority administers and collects LTT with support from HM Land Registry.
- ^ "Land transaction tax - The Law Society". www.lawsociety.org.uk. Retrieved 12 January 2020.
- ^ "Written Statement - Land transaction tax rates and bands". GOV.WALES. Retrieved 12 January 2020.
- ^ "Land Transaction Tax". Welsh Government. Retrieved 12 January 2020.
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