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Data Provider: Welsh Revenue Authority Land Transaction Tax statistics by transaction value and measure, 2019-20
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[Collapse]PeriodData 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.\'[Filtered]
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[Collapse]Period 1[Filtered]
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Period 2[Filter]
Measure2
MeasureMeasure[Filter]
[Collapse]Transaction valueTransaction value is generally the purchase price of the property or land item.  The bands differ for residential and non-residential purchases, reflecting the different tax bandings for each type of transaction.  It is therefore not possible to present a transaction value for the total of both transaction types.[Filter]
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[Collapse]Transaction value 1
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Transaction value 2
Click here to sortNumber of transactionsClick here to sortTax due (£ million)Click here to sortProperty value taxed (£ million)
[Collapse]TotalCounts include all residential transactions, plus non-residential transactions with a purchase element and a rental element although to avoid double counting, only those non-residential transactions with a rental element but without a purchase element are added to those with a purchase element in the totals.  Tax due includes tax related to both the purchase and rental elements of all residential and non-residential transactions.  The value statistics for the separate purchase and rental elements of non-residential transactions should not be summed together and the totals presented here only includes the purchase elements of non-residential transactions along with residential transactions.ErrorErrorError
TotalCounts include all residential transactions, plus non-residential transactions with a purchase element and a rental element although to avoid double counting, only those non-residential transactions with a rental element but without a purchase element are added to those with a purchase element in the totals.  Tax due includes tax related to both the purchase and rental elements of all residential and non-residential transactions.  The value statistics for the separate purchase and rental elements of non-residential transactions should not be summed together and the totals presented here only includes the purchase elements of non-residential transactions along with residential transactions.[Collapse]Residential totalErrorErrorError
Residential totalResidential up to and including £180,000ErrorErrorError
Residential £180,001 to £250,000ErrorErrorError
Residential £250,001 to 400,000ErrorErrorError
Residential £400,001 to £750,000ErrorErrorError
Residential £750,001 to £1.5mErrorErrorError
Residential over £1.5mErrorErrorError
[Collapse]Non-residential totalCounts include non-residential transactions with a purchase element and a rental element although to avoid double counting, only those with a rental element without a purchase element are added to those with a purchase element in the totals.  Tax due includes tax related to both the purchase and rental elements of all non-residential transactions.  The value statistics for the separate purchase and rental elements of non-residential transactions should not be summed together and the totals presented here only include the purchase elements.ErrorErrorError
Non-residential totalCounts include non-residential transactions with a purchase element and a rental element although to avoid double counting, only those with a rental element without a purchase element are added to those with a purchase element in the totals.  Tax due includes tax related to both the purchase and rental elements of all non-residential transactions.  The value statistics for the separate purchase and rental elements of non-residential transactions should not be summed together and the totals presented here only include the purchase elements.Non-residential purchase element up to and including £150,000ErrorErrorError
Non-residential purchase element £150,001 to £250,000ErrorErrorError
Non-residential purchase element £250,001 to £1mErrorErrorError
Non-residential purchase element more than £1mErrorErrorError
[Collapse]Non-residential rental value (total)ErrorErrorError
Non-residential rental value (total)Non-residential rental value (no purchase element)ErrorErrorError
Non-residential rental value (purchase element)ErrorErrorError

Metadata

Title

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

Last update

20 November 2020 20 November 2020

Next update

23 December 2020

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 16 November 2020.

The data in this release should be considered in the context of the coronavirus (COVID-19) outbreak. This had a significant impact on the number of property transactions and tax due during the first half of 2020-21. It therefore affects comparisons made between this period and the same period in 2019-20.

The national lockdown imposed on 23 March 2020 resulted in the housing market being mainly closed until it was partially re-opened on 22 June. At that point, house viewings could take place in vacant properties along with house moves where a sale has been agreed but not yet completed. The market was then more fully opened on 27 July to coincide with a change in LTT rates effective until 31 March 2021. Although there were some further local lockdowns imposed towards the end of the period reported in this release (end September 2020), these do not appear to have had any significant impact on transaction counts.

The dataset includes a breakdown by:
- transaction type: residential (including sub-categories for main rate and higher rate transactions), non-residential
- transaction value: values grouped into the different bands for which different rates are charged
- measure: number of transactions, tax due, value of property taxed
- effective date (month, quarter and year)

For some transactions we are unable to provide any detail other than the total tax due figure in the year, as there is a risk of revealing details of the individual transactions. Therefore, these transactions are omitted from all breakdowns and instead summarised here: https://statswales.gov.wales/Catalogue/Taxes-devolved-to-Wales/Land-Transaction-Tax/landtransactiontaxstatistics-tax-due-including-transactions-restricted-detail.

Note that because the value bands differ for residential and non-residential transactions and so there is no viable band breakdown for the total across the two.

Note also that where a new non-residential lease is granted, there may be both a purchase element and a rental element. The rental elements are a different concept, shown separately, and not included in the non-residential or overall totals (which reflect the purchase elements only).


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