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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] An explanation of the tax system in Wales, including the Land Transaction Tax.
The Landfill Disposals Tax (Wales) Act 2017, which received Royal Assent on 7 September 2017, [2] is a tax on the disposal of waste to landfill and is charged by weight. The Welsh Revenue Authority has collected and manages both the Land Transaction Tax and Landfill Disposals Tax in Wales since 2018. There are 3 rates of LDT:
Under the measure, 10 pence of every pound in each tax bracket will go to the Welsh Government. [8] For the basic 20% rate of tax, 10% will go to the Welsh Government and 10% will go to the UK Government. [9] For the higher rate (£31,786–150,000) the 40% tax is split at 10% to the Welsh Government and 30% to the UK Government. [9]
Family farms in Wales are under threat because of the UK Labour government’s Budget, opposition groups in the Senedd have said. The Welsh First Minister Eluned Morgan was forced to defend the ...
The Tax Acts in question are the Tax Collection and Management (Wales) Act 2016, the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, and the Landfill Disposals Tax (Wales) Act 2017. [3]: §3 It was introduced by Rebecca Evans, the Finance and Local Government minister in the Welsh government, on 13 December 2021. [4]
Jo Stevens defended the new tax on combined business and agricultural assets at an effective rate of 20% from April 2026. Some Welsh farmers said the new rules would hurt farming families, while ...
The remaining 20% comes from devolved taxes such as non-domestic rates, land transaction tax, landfill disposal tax and the Welsh rates of income tax. These taxes are collected and managed by the Welsh Revenue Authority, except for income tax which is collected by His Majesty’s Revenue and Customs on behalf of the Welsh Government.
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.