Land Transaction Tax

Taxation in 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.