As a conveyancing practitioner, you need to know that Stamp Duty Land Tax (SDLT) in Wales was replaced by Land Transaction Tax on 1 April 2018. If you have clients buying Welsh land and property they will expect you to know what the relevant tax rules are, and how they will be affected.
This course is essential if you deal with conveyancing matters in Wales, particularly if you are based in England and work for clients purchasing in Wales. It is vital that you understand these important changes to avoid potential claims when, for instance, dealing with cross-border property matters.
If you’re looking for an overview of the new land tax regime in Wales and how it will impact your practice, this course is designed for you. Our well known and respected land law expert, Richard Snape, will take you through the new tax, highlighting the key similarities and the differences compared to SDLT.
Key learning outcomes
- Understand the thresholds and rates under the Land Transaction Tax
- Appreciate how Land Transaction Tax changes the previous rules
- Understand the new anti-avoidance rules
What does this course cover?
This course covers the key changes introduced in Wales in April 2018, and the practical implications, including:
- Thresholds and rates in Wales; cross-border conveyancing
- Changes to anti-avoidance rules
- Changes to contingent consideration
- Changes to tax and rent
- Transactions exempt from higher rates of tax
- Implications for additional dwellings
- The impact in the case of contingent consideration
- Implications for linked transactions