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: Land Transaction Tax (LTT)—practitioner overview of scope, rates, chargeable consideration, leases, reliefs, transitional provisions, administration and anti-avoidance

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Practice notes

FORTHCOMING CHANGE:

The Welsh government continues to review the ongoing availability of multiple dwellings relief, with a formal announcement anticipated in Spring 2025. This Practice Note outlines land transaction tax (LTT), which replaced Stamp Duty Land Tax (SDLT) in Wales with effect from 1 April 2018. Three related companion Practice Notes examine particular aspects of the tax in greater detail, as set out below:

Wales: Land transaction tax (LTT)—chargeable consideration and rates of LTT
Wales: Land transaction tax (LTT)—particular transactions and tax payers, and
Land transaction tax (LTT)—Administration and Compliance

Background

The Wales Act 2014 provides for SDLT to be disapplied in Wales with effect from 1 April 2018 and enables the Welsh Government to introduce its own tax on transactions in land in Wales. The legislative framework for LTT is set out in the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (LTTADT(W)A 2017), which received Royal Assent on 24 May 2017. Rules for tax administration in Wales, including the establishment of the Welsh Revenue Authority (WRA), are contained in the Tax Collection and Management (Wales) Act 2016 (TCM(W)A 2016), which received Royal Assent on 20 April 2016. Statutory references are to the LTTADT(W)A 2017 unless...

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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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