A tax on transactions involving acquisitions of interests in land in Wales. LTT applies to acquisitions with an effective date on or after 1 April 2018 (subject to transitional provisions). An acquisition includes the creation, surrender, release or variation of a land interest (section 6, Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017). LTT is chargeable irrespective of:

It is payable by the person acquiring the interest on the due date, which is 30 days after the effective date of the transaction. The effective date is the earlier of completion of the transaction or substantial performance of the contract.

For further information, see Practice note: overview, Welsh land transaction tax (LTT): overview

Acquisitions of land in Wales with an effective date before 1 April 2018 (or on or after 1 April 2018 where transitional rules apply) are subject to stamp duty land tax (see Practice note, SDLT: overview).