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Welsh Government
Data Provider: Welsh Revenue Authority Land Transaction Tax statistics on higher rate refunds by original transaction date and refund approved date
None
MeasureThe two measures shown are a count of transactions subject to higher rate refunds, and the total value of those refunds.[Filtered]
Measure2
[Collapse]Refund approved periodData are shown by the financial quarter (quarter 1 is April to June) and financial year (April to March) in which the higher rate refund was approved by the Welsh Revenue Authority. Where part years are shown, these are marked with the suffix \'to date.\'[Filter]
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Refund approved period 1
[Collapse]Effective periodData are shown against the financial year (April to March) in which the transaction subject to the higher rate refund was originally effective, regardless of when the refund that applied to that transaction was actually approved, which may be as much as three years later.[Filter]
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Effective period 1
[Collapse]2018-19Click here to sort2018-19[Collapse]2019-20Click here to sort2019-20[Collapse]2020-21Click here to sort2020-21[Collapse]2021-22Click here to sort2021-22[Collapse]2022-23 (to date)Click here to sort2022-23 (to date)
Click here to sortApril to June 2018-19Click here to sortJuly to September 2018-19Click here to sortOctober to December 2018-19Click here to sortJanuary to March 2018-19Click here to sortApril to June 2019-20Click here to sortJuly to September 2019-20Click here to sortOctober to December 2019-20Click here to sortJanuary to March 2019-20Click here to sortApril to June 2020-21Click here to sortJuly to September 2020-21Click here to sortOctober to December 2020-21Click here to sortJanuary to March 2020-21Click here to sortApril to June 2021-22Click here to sortJuly to September 2021-22Click here to sortOctober to December 2021-22Click here to sortJanuary to March 2021-22Click here to sortApril to June 2022-23Click here to sortJuly to September 2022-23 (to date)This only represents the quarter to 19 September 2022.
[Collapse]2018-19201202302906502602601501508207070809032070603020180*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)
2018-19April to June 2018-192010090602604060202013010101010501010*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance).The data item is not applicable20.The data item is not applicable.The data item is not applicable.The data item is not applicable
July to September 2018-19.The data item is not applicable201201002407060505022020103030902010*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)30.The data item is not applicable.The data item is not applicable.The data item is not applicable
October to December 2018-19.The data item is not applicable.The data item is not applicable201201408070504024020203030100302020*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)70*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)
January to March 2018-19.The data item is not applicable.The data item is not applicable.The data item is not applicable10108080404024010202020802020101060.The data item is not applicable.The data item is not applicable.The data item is not applicable
[Collapse]2019-20.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable3013018030063017018018022074017012090804607050120
2019-20April to June 2019-20.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable30100707027030302040120302020209020.The data item is not applicable20
July to September 2019-20.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable30901002203040406017040302030120201030
October to December 2019-20.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable101101205050706024050302020130202030
January to March 2019-20.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable20206050506022050402020130202040
[Collapse]2020-21.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable10601203705503502601501308807050120
2020-21April to June 2020-21.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable10303040110202010105010*Represents a value that has been suppressed as it is not sufficiently large to present, or the tax due for a small number of transactions contributes to the majority of the cell value (dominance)10
July to September 2020-21.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable306010019070402030160101020
October to December 2020-21.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable30200220140905040320302050
January to March 2020-21.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable30301201107050350202040
[Collapse]2021-22.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable40190230260720220160380
2021-22April to June 2021-22.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable4016010070370303060
July to September 2021-22.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable3010060190503080
October to December 2021-22.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable401101508050130
January to March 2021-22.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable10106050110
[Collapse]2022-23 (to date)April to June 2022-23.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable.The data item is not applicable3070100

Metadata

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 19 September 2022.

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

The national restrictions imposed on 23 March 2020 resulted in the housing market being mainly closed until it was partially re-opened on 22 June 2020. At that point, house viewings could take place in vacant properties along with house moves where a sale had been agreed but not yet completed. The market was then more fully opened on 27 July 2020 to coincide with a change in LTT rates on that date, at that time effective until 31 March 2021. On 3 March 2021, it was announced that the temporary tax reduction period would be extended by 3 months, to end on 30 June 2021.

Although there were further local and national restrictions introduced since the initial changes to LTT rates in July 2020, these appear to have had no impact on transaction counts.

There were further changes to LTT rates effective from 22 December 2020. Please note that some higher rates residential and non-residential transactions effective in December 2020 will have been charged at pre 22 December rates, and some at the post 22 December rates. We estimate around 100 higher rates and 10 non-residential transactions within those December 2020 data were charged at the post 22 December rates.

The dataset focuses on residential transactions subject to a higher rate refund and includes the number of transactions subject to a refund, and the aggregate value of those refunds, broken down by:
- effective quarter and year of the original transaction
- the quarter and year in which the refund was approved, which may be as much as three years after the original transaction

When a refund for higher rates residential transaction is claimed, the original transaction is amended to a main rate residential transaction. With up to three years for taxpayers to sell their previous main residence and claim a refund, the data for any given quarter (relating to the effective date of the original transaction) may be broken down into any refund approved quarter in the subsequent three years, including the most recent quarter (which may not be complete by the date above). For this reason, the refund approved date presented here includes that most recent quarter, and the note against that quarter explains how much of it is covered in the data.

Note the number and value of refunds presented for later effective dates is lower than that for earlier periods. This is because compared with earlier periods, insufficient time has passed since the transaction was effective for many of the relevant taxpayers to sell their previous main residence and claim their refund.

Data collection and calculation

See weblinks

Frequency of publication

Monthly

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 for the transactions for which a refund applies, and the nearest £0.1 million for the aggregate value of the refunds.

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.

Data reference periods

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

The refund may be approved at an time up to three years after the transaction was effective. As such the analysis by refund approval date includes all quarters up to the date set out in the general description. As this date is often within a quarter, the latest refund approval quarter is a part quarter.

Title

Land Transaction Tax statistics for higher rate refunds, by effective year and quarter and year and quarter of refund approval

Last update

23 September 2022 23 September 2022

Next update

27 October 2022

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

Keywords

Land Transaction Tax; LTT; Tax

Statistical quality

See weblinks