Administrative and Compliance Guidelines for Land Transaction Tax (LTT) in Wales

Produced in partnership with Andrew Evans of Geldards LLP

Practice notes

Administrative and Compliance Guidelines for Land Transaction Tax (LTT) in Wales

Produced in partnership with Andrew Evans of Geldards LLP

Practice notes

FORTHCOMING CHANGE: The Welsh Government consulted on proposals relating to LTT reliefs including the abolition of LTT multiple-dwellings relief, abolition of relief in respect of purchases of six or more dwellings in a single transaction and the extension of existing relief to Welsh local authorities when purchasing property for social housing purposes. The consultation closed on 19 May 2024. The Welsh Government published its summary of responses to the consultation stating that they ‘will continue to undertake work to assess the potential impacts, benefits and costs of options related to LTT reliefs’ and that an update on plans regarding LTT reliefs will be provided in due course.

CORONAVIRUS (COVID-19): There is a delay in processing correspondence (including returns and cheques) sent by post to the Welsh Revenue Authority (WRA) on or after 18 March 2020. Online services are largely unaffected by COVID-19 so the WRA recommends that taxpayers use their online services. Contact the WRA helpdesk before sending any correspondence by post. See How to pay LTT.

Land transaction tax (LTT) replaced stamp

Andrew Evans

Partner, Geldards LLP

Andrew has spent his career advising owner managers and SME businesses/companies on their tax affairs. In common with many tax advisers in regional law firms, Andrew’s practice covers a wide range of tax areas, from Corporate M&A support, company restructuring and reorganisations including demergers, share schemes and property taxes including vat, SDLT and LTT. Andrew has also developed a specialism advising business owners and companies on selling their company to an Employee Ownership Trust.

Andrew was a member of the Welsh Government’s Tax Advisory Group which assisted Welsh Government develop the LTT regime.

Jurisdiction(s):

United Kingdom

Key definition:

Administration definition

What does Administration mean?

Administration is a procedure under the Insolvency Act 1986, under which a company in financial difficulties is run by an Administrator as a going concern prior to the implementation of longer-term options such as break-up and sale.

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