Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Stamp duty definition

What does Stamp duty mean? Stamp duty is a documentary tax on instruments that transfer certain assets, most commonly UK certificated shares. In practice, it is paid on the executed stock transfer form, which must be stamped before the transferee can be registered. The charge is imposed by UK legislation (principally the Stamp Act 1891, as amended) and arises on execution of the instrument; HMRC collects the duty via the stamping process, with penalties and interest for late stamping. Reliefs and exemptions exist (for example for certain intra-group transfers and charities). For electronic or uncertificated share transfers, stamp duty reserve tax (SDRT) generally applies instead; where...

Wales LTT: Residential land, leases, MDR, mixed-use garden/grounds, cross-border apportionment, partnerships, PAIFs/CoACS, anti-avoidance (TAAR/GAAR), and Brexit—key rules and SDLT differences

Published by a LexisNexis Tax expert

Practice notes

From 1 April 2018, land transaction tax (LTT) took the place of Stamp Duty Land Tax (SDLT) in Wales. This Practice Note outlines how LTT applies to specific scenarios where its treatment diverges from SDLT, including the following:

Residential leases
Mixed use claims—garden and grounds
Leases held over beyond their contractual end date
Multiple dwellings relief (MDR)
Cross border transactions, including cross title properties
Anti-avoidance, covering the LTT targeted anti-avoidance rule (TAAR) and the general anti-avoidance rule (GAAR)
Property authorised investment funds (PAIFs) and co-ownership authorised contractual schemes (CoACS)
Partnerships
Brexit

Where appropriate, it contrasts LTT with SDLT. It also builds on the fundamentals in the Practice Note: Wales: Land transaction tax (LTT)—the basics. LTT is legislated for in the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (LTTADT(W)A 2017), and statutory citations are to that Act unless indicated otherwise.

Residential land

There is a nuanced but significant variation in the definition of residential land under LTT when compared with SDLT: the connectors used in the SDLT definition—namely ‘and’ and ‘or’—do not appear in the corresponding wording, leading to a different interpretative outcome...

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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 22/05/2026

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