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Data Provider: Welsh Revenue Authority Land Transaction Tax statistics by transaction type and transaction description, 2018-19
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Measure[Filtered]
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Period 2[Filter]
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[Collapse]Transaction description[Filter]
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Transaction description 1
[Collapse]Transaction type[Filter]
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[Collapse]Transaction type 1
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[Collapse]Transaction type 2
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Transaction type 3
[Collapse]All transactionsClick here to sortAll transactions
Click here to sortConveyance / Transfer of ownershipClick here to sortGranting a new leaseClick here to sortAssignment of a lease
[Collapse]All transactions198.414.613.9226.9
All transactions[Collapse]Residential148.11.94.5154.5
Residential[Expand]Main rate residential75.80.40.676.8
[Collapse]Higher rates residential72.31.53.977.7
Higher rates residentialRevenue from main rate17.80.30.518.6
Revenue from higher rate54.51.23.459.1
[Expand]Non-residential: all transactions50.312.89.472.5
[Expand]Non-residential: rental element only.10.4.10.4

Metadata

Title
Land Transaction Tax statistics, by transaction type, transaction description, measure and effective date

Last update
27 June 2019 27 June 2019

Next update
25 July 2019

Publishing organisation
Welsh Revenue Authority

Source 1
Land Transaction Tax returns, Welsh Revenue Authority

Contact email
data@wra.gov.wales

Designation
None

Lowest level of geographical disaggregation
Wales

Geographical coverage
Wales

Languages covered
English and Welsh

Data licensing
You may use and re-use this data free of charge in any format or medium, under the terms of the Open Government License - see http://www.nationalarchives.gov.uk/doc/open-government-licence

General description
From 1 April 2018, LTT replaced Stamp Duty Land Tax (SDLT) on residential and non-residential property and land interests purchased in Wales. The tax rates and tax bands for LTT vary depending on the type of transaction.

Taxpayers must notify the WRA of all land transactions with a value above £40,000. There are also circumstances where certain lease transactions are not notifiable if they are less than 7 years in duration. When filing an LTT return, the organisation paying the return has 30 days after the effective date to submit and pay the return.

This dataset includes estimates of LTT notifiable transactions received by the WRA by the close of 17 June 2019.

The dataset includes a breakdown by:
- transaction type: residential (including sub-categories for main rate and higher rate transactions), non-residential
- transaction description: conveyance / transfer of ownership, granting a new lease, assignment of lease
- measure: number of transactions, tax due, value of property taxed
- effective date (month, quarter and year)


Data collection and calculation
See weblinks

Frequency of publication
Monthly

Data reference periods
Data are shown by the month, financial quarter (quarter 1 is April to June) and financial year (April to March) in which the transaction was effective. Where part quarters and years are shown, these are marked with the suffix "to date."

Users, uses and context
These statistics have been established to meet the immediate user requirement for data on the implementation of LTT, following the establishment of the WRA. Our key users are colleagues from the Welsh Treasury within the Welsh Government, the Office of Budget Responsibility, and other tax authorities in the UK.

Rounding applied
Values in this dataset are rounded to the nearest 10 transactions, nearest £0.1 million tax due, and nearest £1 million for the value of property taxed.

Revisions information
Land Transaction Tax statistics are regularly revised and the values for the latest period are provisional. When filing a LTT return, the organisation paying the return has 30 days after the ‘effective date’ to submit and pay the return. The effective date is when the tax becomes liable to be paid, usually when a transaction is completed on a property. Additional LTT transactions relating to the most recent month are therefore likely to be filed during the following month. See weblinks for analysis of these revisions.

Values for earlier periods are subject to revisions for several years. Transactions can be amended for a variety of reasons and the statistics are revised each month to reflect amendments to transactions. In particular, this will be due to higher rate refunds. When a refund for higher rates residential LTT is claimed, the original transaction is amended to a main rate residential LTT transaction. The taxpayer has up to three years to sell their previous main residence and claim a refund.

Statistical quality
See weblinks

Keywords
Land Transaction Tax; LTT; Tax