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Data Provider: Welsh Revenue Authority Land Transaction Tax statistics on total tax due, including transactions with restricted detail (to protect confidentiality)
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Measure1
Transaction TypeTransaction Type[Filter]
PeriodFinancial year[Filter]
DescriptionDescription[Filter]
Click here to sortAll transactionsClick here to sortResidentialClick here to sortNon-residential
[Collapse]2018-19Annual total excluding untypical and undisclosed transactions221.6148.573.1
Untypically large transactions.Not applicable.Not applicable.Not applicable
Undisclosed detail to protect confidentiality.Not applicable.Not applicable.Not applicable
Annual total222.Not applicable.Not applicable
[Collapse]2019-20Annual total excluding untypical and undisclosed transactions231.8163.468.4
Untypically large transactions28.2.Not applicable28.2
Undisclosed detail to protect confidentiality2..|Witheld to protect confidentiality of individual transactions..|Witheld to protect confidentiality of individual transactions
Annual total262..|Witheld to protect confidentiality of individual transactions..|Witheld to protect confidentiality of individual transactions

Metadata

Title

Land Transaction Tax statistics on total tax due, including transactions with restricted detail (to protect confidentiality)

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 dataset includes a breakdown by:
- transaction type: residential, non-residential
- total tax due, including transactions with restricted detail
- effective 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. These are rounded to the nearest million pounds for additional protection, and should only be included if seeking a value for total LTT revenue in the 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 £0.1 million, and nearest £1 million for additional transactions shown with restricted detail.

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

Name

WRAX0002