Stamp Duty Land Tax (SDLT) does not apply to land transactions in Wales from 1 April 2018.
It has been replaced by Land Transaction Tax (LTT). SDLT was replaced by Land and Buildings Transaction Tax (LBTT) in Scotland in 2015. Guidance has now been released in respect of how to deal with cross border transactions and transitional rules.
- If a single transaction includes land in both Wales and elsewhere in the UK or Scotland, LTT will apply only to the land in Wales and separate returns must be made for LTT and for SDLT (if in England or Northern Ireland) and/or LBTT if in Scotland, and the consideration for the transaction must be apportioned on a “just and reasonable basis”.
- A transaction to which LTT applies cannot be a “linked transaction” for SDLT purposes.
- Some Welsh transactions will continued to be subject to SDLT on and after the date of introduction. See Welsh Land Transaction Tax for more details of the transitional rules.
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