As a devolved tax, land transaction tax (which is payable instead of SDLT in respect of land transactions in Wales) is collected by The Welsh Revenue Authority ("WRA"). We have an account with WRA which allows you to file land transaction tax ("LTT") returns and pay LTT chargeable in respect of Welsh properties purchases online.
If you would like to be set up as a user on Keystone's account with the WRA, you will first need to create an online account on the WRA website here. A verification code will be sent to your email address and then you will be asked to provide Keystone's registration number (63061684). Once you have done this please inform the Administration Team who can log in to the master account and activate your profile and you will be linked Keystone's WRA dashboard.
As with SDLT, the party liable to LTT and required to file LTT returns in respect of any Welsh property transaction is the buyer. To calculate the LTT chargeable in respect of any Welsh property transaction, you should use the Welsh government's LTT calculator: https://gov.wales/land-transaction-tax-calculator.
LTT is broadly modelled on SDLT. Therefore, the circumstances in which you would need to seek specialist LTT advice are likely to be similar to the circumstances in which you would need to seek specialist SDLT advice (as described above).
There are, however, important differences between SDLT and LTT (e.g. in relation to the process for deferring LTT on uncertain consideration). Moreover, LTT is governed by wholly different legislation from SDLT. Therefore, if you are acting in relation to the acquisition of any property in Wales, you should not assume that the LTT treatment is the same as what would be the SDLT treatment were the property located in Wales. If you are in any doubt as to the LTT position in respect of any Welsh property transaction on which you are acting, please contact Michael Fluss.