Wales: Land transaction tax (LTT)—the basics

Copyright © 2025 LexisNexis
Produced in partnership with Andrew Evans of Geldards LLP
Practice notes

Wales: Land transaction tax (LTT)—the basics

Copyright © 2025 LexisNexis

Produced in partnership with Andrew Evans of Geldards LLP

Practice notes
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FORTHCOMING CHANGE: The Welsh government is continuing to review the availability of multiple dwellings relief with an announcement expected in Spring 2025.

This Practice Note provides an overview of land transaction tax (LTT) which replaced stamp duty land tax (SDLT) in Wales with effect from 1 April 2018. Three other Practice Notes focus in more detail on particular aspects of the tax:

  1. •

    Wales: Land transaction tax (LTT)—chargeable consideration and rates of LTT

  2. •

    Wales: Land transaction tax (LTT)—particular transactions and tax payers, and

  3. •

    Land transaction tax (LTT)—administration and compliance

Background

The Wales Act 2014 contains provisions for the disapplication of SDLT in Wales from 1 April 2018 and the ability for Welsh Government to introduce its own tax on transactions in land in Wales.

Legislation for LTT is contained in the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (LTTADT(W)A 2017) which received Royal Assent on 24 May 2017. Legislation for the administration of taxes in Wales and the formation of the Welsh Revenue Authority (WRA) is contained

Andrew Evans
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.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Stamp duty definition
What does Stamp duty mean?

A transfer tax payable on documents and instruments, rather than in respect of a transaction. It is most commonly encountered on the transfer of UK certificated shares, where the stock transfer form is the instrument that is stamped.

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