Land transaction tax (LTT) has now been in operation for a year for land transactions in Wales. There is some anecdotal evidence that some advisers see the LTT regime and the operation of LTT by the Welsh Revenue Authority (WRA) as ripe for abuse by applying schemes from SDLT to LTT and charging property owners handsomely for the advice. However, the property owners may be in for a nasty shock when they discover the not so subtle differences between the avoidance legislation that applies to LTT and SDLT.
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Land transaction tax (LTT) has now been in operation for a year for land transactions in Wales. There is some anecdotal evidence that some advisers see the LTT regime and the operation of LTT by the Welsh Revenue Authority (WRA) as ripe for abuse by applying schemes from SDLT to LTT and charging property owners handsomely for the advice. However, the property owners may be in for a nasty shock when they discover the not so subtle differences between the avoidance legislation that applies to LTT and SDLT.
If you are not a subscriber, subscribe now to read this content.
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