There are better ways to deliver affordable housing than local rates of land transaction tax rates, says ICAEW in response to the Welsh Government’s consultation on local variation to LTT for second homes, short-term holiday lets and other additional residential properties.
Features and articles
ICAEW has responded to the draft Welsh Tax Acts etc (Power to Modify) Bill, which seeks to give the Welsh government more power to react to changes to SDLT.
Highlights from the broader tax news week ending 3 February, which includes: a restrained Scottish Budget in light of the coronavirus pandemic and HMRC publishes a Brexit edition of its Agent Update with guidance on postponed VAT accounting.
22 December 2020: Welsh Finance Minister Rebecca Evans has set out plans to spend £22bn in the financial year commencing 1 April 2021.
Highlights from the broader tax news week ending 22 December, which includes: guidance from HMRC on disguised remuneration schemes that avoid tax by selling business revenues to trusts, changes to land transaction tax and Royal Assent of the Taxation (Post-transition Period) Bill 2020.
19 October 2020: ICAEW has suggested that the Welsh government should develop an annual Finance Bill type process to allow it to react quicker to tax changes.
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A chapter providing an outline of Land Transaction Tax (LTT), which applies to most transactions over land in Wales from 1 April 2018.
A chapter providing an outline of Land and Buildings Transaction Tax (LBTT) in Scotland.
A full chapter providing a practical overview of Scottish income tax.
A full chapter providing a practical overview of Welsh income tax.
Practical advice on stamp taxes, including stamp duty land tax (SDLT) in England or Northern Ireland, land and buildings transaction tax (LBTT) in Scotland and land transaction tax (LTT) in Wales, in relation to incorporating or disincorporating a business.
Guidance on the general rules for stamp duty land tax (SDLT), land and buildings transaction tax (LBTT) and land transaction tax (LTT) and their application to the acquisition of buy-to-let property.
A response dated 21 March 2022 to a consultation published by the Welsh Government on 20 December 2021.
Comments made by ICAEW on 26 January 2022 in relation to the Welsh Tax Acts Etc. (Power to Modify) Bill 2022.
A response dated 15 October 2020 to a consultation published by the Welsh government on 16 July 2020.
A response dated 6 June 2019 to a consultation published by the Scottish government on 14 March 2019.
Some resources that we link to may pre-date the latest amendments to the relevant tax regulations. While these links contain useful information, please treat them with appropriate caution.
Authority responsible for the management and collection of Scotland's devolved taxes providing guidance on Land and Buildings Transaction Tax, Scottish Landfill Tax, LBTT and leases, and Air Departure Tax.
Official information on devolved taxes in Wales with links to further guidance on and rates for Landfill Disposals Tax, Land Transaction Tax, and income tax.
Information on the devolution of fiscal powers to the Scottish Parliament and the Welsh and Northern Irish Assemblies, including a timeline of milestones and forthcoming changes, and summaries describing the current status of devolved taxes in each region.
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