The taxpayer bought a property in Wales – it completed on 19 November 2019. At the time he owned a property in England as a result of which the purchase of his Welsh property was a higher rate residential property transaction and subject to the higher rates of land transaction tax (LTT). He had intended to sell the English property before moving to Wales but its sale was delayed for several reasons including the Covid lockdowns the taxpayer being made redundant and his wife’s business closing and an environmental report which took six months to obtain. He completed the sale of the English property on 4 January 2023.
The taxpayer claimed repayment of the higher rate of LTT on the grounds that he had sold his previous residence but the Welsh Revenue Authority (WRA) rejected the claim. The taxpayer appealed.
The First-tier Tribunal found that...
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