From 1 April 2018, a new Land Transaction Tax (LTT) replaces Stamp Duty Land Tax (SDLT) in Wales. LTT is broadly consistent with SDLT, but also introduces some key changes. Here, we outline these.
Who pays the tax?
LTT is payable by the purchaser of residential or non-residential property in a land transaction occurring in Wales from 1 April 2018.