Land Transaction Tax in Wales - The Key Issues in Practice

Introduction

This webinar will consider the practical difficulties that conveyancers may come across in dealing with LTT returns and issues in practice.

The webinar is aimed at conveyancers with responsibility for dealing with LTT returns.

What You Will Learn

This webinar will cover the following:

• A reminder of the basics of LTT:
• What is included in a land transaction and what is exempt
• What about easements
• Substantial performance and acceleration of the filing date
• The rates of LTT and a comparison to SDLT
• Residential - main residence and additional dwelling bands and rates
• Non-residential bands and rates
• Difficult interpretations - what is residential compared to non-residential?
• When can you claim mixed use?
• Multiple dwellings relief - pinch points
• How to deal with cross border and straddle properties
• Application of the tax avoidance rules - TAAR and GAAR and differences from SDLT tax avoidance
• WRA processes and procedures
• Working with the WRA
• Use of technical guidance and LTT specialists
• LTT tax opinion service
• What could be in store in the future for LTT?
• SLBTT rate for additional dwellings
• Consultation on second homes and short-term holiday lets

This webinar was recorded on 13th April 2023