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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.
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]
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:
The Act allows Welsh ministers to amend the Welsh Tax Acts using regulatory powers for any of the following purposes: [3]: §1 & 4 Making sure that the Landfill Disposals Tax or the Land Transaction Tax (the Welsh equivalents of landfill tax and stamp duty) are not levied in instances which would be incompatible with any of the United Kingdom's international obligations
Eluned Morgan, the Welsh First Minister, has defended the UK government’s budget during FMQs.
His Majesty's Land Registry is a non-ministerial department of His Majesty's Government, created in 1862 to register the ownership of land and property in England and Wales. [3] It reports to the Ministry of Housing, Communities, and Local Government . [ 4 ]
The Treasury did not have an estimate of the impact on Welsh farms. Across the UK it said it expected 2,000 estates to be affected from 2026-27, with around 500 of those claiming agricultural ...
The tax would mean the costs of maintaining public infrastructure and services will be shared by all those who benefit from them, including visitors. Overnight visitors to Wales could pay ...