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Land transaction tax: mixed-use property

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The Welsh Revenue Authority (WRA) has published new guidance on land transaction tax (LTT) rates for non-residential or mixed-use property or land in Wales. As with the equivalent land transaction taxes in the other regions of the UK, the rates of LTT depend on the type of property – residential, non-residential or mixed-use.

The guidance confirms that transactions involving non-residential or mixed-use property or land are subject to the non-residential rates of LTT.

A transaction is likely to be residential if, at the effective date, the land or property:forms part of the garden or grounds of a dwelling; and is for the benefit of a dwelling.

Paras LTTA/1050 and LTTA/1060 of the WRA LTT technical guidance provide detailed notes for determining whether property is residential or non-residential.

The WRA’s LTT tax calculator can be used to work out the tax liability, depending on what type of property is involved.

Issue: 1542
Categories: News
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