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Land transaction tax
The Welsh government should ‘tread carefully’ with the higher rate bands for its new land transaction tax (LTT) or risk deterring people from moving, resulting in a loss of tax revenue, the Chartered Institute of Taxation is warning.
From April 2018, the LTT will replace stamp duty land tax (SDLT) in Wales. A final decision on the tax rates will be made closer to that date, but the higher rates are under consideration as part of the LTT legislation being introduced in 2016.
