Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Administration definition

What does Administration mean? Administration is a corporate insolvency procedure used to protect and stabilise a financially distressed company while an independent insolvency practitioner (the administrator) takes control to pursue rescue or a better return to creditors than liquidation. It is a statutory process in England and Wales and Scotland under the Insolvency Act 1986, Schedule B1, and in Northern Ireland under the Insolvency (Northern Ireland) Order 1989, Schedule B1. Key features include an immediate moratorium on most creditor enforcement, displacement of the directors’ management powers, and appointment either by court order or out of court by the company, its directors or...

Wales: Land Transaction Tax (LTT) administration and compliance: returns, payment, linked transactions, amendments, WRA enquiries and assessments, penalties, interest, and tax opinions

Published by a LexisNexis Tax expert

Practice notes

From 1 April 2018, land transaction tax (LTT) replaced Stamp duty land tax (SDLT) in Wales. This Practice Note outlines the principal administrative and Compliance aspects of LTT, covering:

filing returns and payment
management and collection of LTT by the Welsh Revenue Authority (WRA)
amendment and correction of returns
enquiries
assessments
penalties

Where appropriate, distinctions between LTT and SDLT are noted. This Practice Note expands on the essentials in Practice Note: Wales: Land transaction tax (LTT)—the basics. The legislative framework for LTT is the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (LTTADT(W)A 2017). Unless stated otherwise, statutory references are to the LTTADT(W)A 2017.

Administration

LTT is overseen by the WRA. The WRA is a non-ministerial department of Welsh Government with its own board and staff, and its headquarters are in Merthyr Tydfil.

LTT returns

When a notifiable land transaction occurs, a LTT return must be sent to the WRA within 30 days of the effective date, together with a self-assessment of the LTT payable. By comparison, SDLT returns must be submitted within 14 days (with...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Andrew Evans

Geldards LLP

Andrew has spent his career advising owner managers and SME businesses/companies on their tax affairs. In common with many tax advisers in regional law firms, Andrew’s practice covers a wide range of tax areas, from Corporate M&A support, company restructuring and reorganisations including demergers, share schemes and property taxes including vat, SDLT and LTT. Andrew has also developed a specialism advising business owners and companies on selling their company to an Employee Ownership Trust.Andrew was a member of the Welsh Government’s Tax Advisory Group which assisted Welsh Government develop the LTT regime....

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...