Contents · complete this section; complete section 2a instead. For further help and guidance on...

Contents SECTION 1- About the Agent ................................................................................................................... 1

SECTION 2a - About the Buyer (Individuals) ........................................................................................... 2

SECTION 2b- About the Buyer (Organisations) ....................................................................................... 4

SECTION 3a- About the Seller (Individuals) ............................................................................................. 7

SECTION 3b- About the Seller (Organisations) ....................................................................................... 8

SECTION 3c- About the Seller’s Agent .................................................................................................... 9

SECTION 4- About the Land .................................................................................................................... 9

SECTION 5- About the Transaction ....................................................................................................... 13

SECTION 6- About the Lease ................................................................................................................. 25

SECTION 7a- About the Calculation (Where and Lease is Involved) ..................................................... 31

SECTION 7b- About the Calculation (Where a Non-Residential Lease is Involved) .............................. 31

SECTION 7c- About the Calculation (All Transactions) .......................................................................... 34

SECTION 8- Final Questions and Declaration ........................................................................................ 35

SECTION 1- About the Agent

If the buyer is acting for themselves, and there is therefore no agent, go to section 2.

Question 1- Agent’s name

Enter the name of the solicitor’s organisation or other person acting as agent on

behalf of the buyer. If the agent’s name is longer than the space allows for, use

abbreviations.

Question 2- Agent’s address

Ensure that the house or building number / name and postcode are entered in the

relevant fields.

Question 3- Agent’s phone number

Enter the agent’s daytime phone number including the area code. You can enter a

mobile number if this is more useful for contacting the agent.

Question 4- Agent’s reference

If the reference is longer than the space provided, use abbreviations. If the agent

does not have a reference, you can leave the field blank

SECTION 2a - About the Buyer (Individuals)

Where Trusts are Involved

If the buyer is acting on behalf of a bare trust, then enter the beneficiary’s details. If

the buyer is acting as any other type of trust (i.e. settlement) then enter the trustee(s)

details.

If the beneficiary or trustee is not an individual / group of individuals, or if the trust is

registered (with HMRC), you must not complete this section; complete section 2b

instead.

For further help and guidance on trusts please see https://beta.gov.wales/land-

transaction-tax-trusts-technical-guidance

Where No Trusts are Involved

If the buyer is not an individual / group of individuals, you must not complete this

section; complete section 2b instead. The form allows for you to add up to one

additional buyer. If there is more than one additional buyer, you must also complete

an “LTT: Additional Buyer” form. This can be downloaded from insert address here.

Question 5- Title

You must answer this question.

Put an “X” in the appropriate box (one box only)

If the appropriate title is not shown as an option, you can complete the “Other

(specify)” box instead. If the appropriate title does not fit in this box, use

abbreviations. For example, you can show Captain as Capt.

Question 6- Buyer’s first name


Enter the first name of the buyer. You may also enter a middle name.

Question 7- Buyer’s last name


Enter the last name of the buyer.

Question 8- Buyer’s address

https://beta.gov.wales/land-transaction-tax-trusts-technical-guidance



Enter the address where we can write to the buyer after the effective date of the land

transaction. Ensure that the house or building number / name and postcode are

entered in the relevant fields.

Question 9- Buyer’s date of birth


Enter the date of birth for the buyer, using the format dd/mm/yyyy. For example,

28/06/1979.

Question 10- Buyer’s phone number


Enter the buyer’s daytime phone number including the area code. You can enter a

mobile number if this is more useful for contacting the buyer.

Question 11- Buyer’s National Insurance Number

You must answer this question if the buyer is an individual who has a

permanent National Insurance number. If not, complete question 12.

Give the correct National Insurance number for the buyer. A National Insurance

number will look something like this; QQ 12 34 56 A, and can be found on payslips

from your employer, or any letter from the Department for Work and Pensions or

Jobcentre plus. If the final letter is not known, you may leave it out.

Do not use a temporary National Insurance number (these always start with ‘TN’)

If you have answered this question, skip to question 13. If you didn’t answer

this question you must answer question 12. Don’t answer both questions –

answer one or the other.

Question 12- Identification

You must answer this question if you did not answer question 11. If you

answered question 11, skip to question 13.


If you answer “Other” you must also complete the “Other (specify)” box to tell us

which form of identification your ID reference number relates to.

Enter the ID reference from the form of identification you are using.

For passport, driving licenses, and ID Cards, if issued in the UK, the ID ref

number can be found on your actual passport / driving license / ID Card

For Unique Tax References, if issued in the UK, they will be 10 digits long (for

example, 12345 67890) and can be found on correspondence from HMRC, or

by logging on to the buyer’s online account with HMRC.

You must also show which country issued the identification to you in the “Country of

issue” box.

Question 13- Is the buyer acting as a trustee?


If the interest in land is acquired on trust and the buyer is a trustee or is one of

several trustees, please select answer ’Yes’. Answer “No” in all other cases.

Information about how Land Transaction Tax applies in relation to interests in trusts,

can be found at https://beta.gov.wales/land-transaction-tax-trusts-technical-guidance

Question 14- Are the buyer and seller connected?


The definition of 'connected' is covered in Section 1122 Corporation Taxes Act (CTA)

2010. Examples of connected persons include but are not limited to:

a husband, wife or civil partner

a brother or sister, his or her ancestors and lineal descendants

business partners and their relatives

a person and a company that they control

two companies controlled by the same person

You can access the Corporation Tax Act at

https://www.legislation.gov.uk/ukpga/2010/4/contents

Further information about linked transactions can be found at LTTA/2040:

https://beta.gov.wales/land-transactions#section-5054

Answer ‘Yes’ if the buyer is connected with the seller in any of the ways defined in

Section 1122 Corporation Taxes Act (CTA) 2010. Otherwise, answer “No”.

SECTION 2b- About the Buyer (Organisations)

Where Trusts are Involved

If the buyer is acting on behalf of a bare trust, then enter the beneficiary’s details. If

the buyer is acting as any other type of trust (i.e. settlement) then enter the trustee(s)

details.

If the beneficiary or trustee is not an individual / group of individuals, you must

complete this section.



If the trust is registered enter the name of the trust and the trust Unique Tax

Reference number (as issued by HMRC). If the trust is not registered do not

complete this section; complete section 2a instead. For further help and guidance on

trusts please see https://beta.gov.wales/land-transaction-tax-trusts-technical-

guidance

Where No Trusts are Involved

If the buyer is not an individual / group of individuals, you must complete this section.

If you completed section 2a, you must not complete this section; skip to section 3.

The form allows for you to add up to one additional buyer. If there is more than one

additional buyer, you must also complete an “LTT: Additional Buyer” form. This can

be downloaded from https://beta.gov.wales/paper-return-land-transaction-tax

Question 15- Organisation’s name


Enter the registered legal name of the buyer. If the name of the buyer is longer than

the space provided, please use abbreviations.

Question 16- Organisation’s trading name

You must answer this question if the trading name is different from the legal

name. Otherwise, skip to question 17.

Enter the trading name of the buyer. If the buyer has more than one trading name,

enter the trading name that is considered to be the most used / known. If the trading

name is longer than the space provided, please use abbreviations.

Question 17- Organisation’s address


Enter the address where we can write to the buyer after the effective date of the land



Question 18- Is the company based in the UK?


If the organisation:

is solely based in the UK, or

has its head office is in the UK, or

has another permanent establishment (as defined for UK tax purposes

in sections 1141 and 1142 of the Corporation Tax Act 2010) in the UK,

then answer “Yes”.



https://beta.gov.wales/paper-return-land-transaction-tax

In all other cases, answer “No”.

Further information on sections 1141 and 1142 of the Corporation Tax Act 2010, visit


Question 19- Companies House registration number if applicable

You must answer this question if the buyer is an organisation that is

registered with Companies House.

If the organisation is registered with Companies House, enter the Company

Registration Number (CRN). You can find this number on your certificate of

incorporation, or any other document sent to you by Companies House. A CRN will

be a combination of 8 numbers or 2 letters followed by 6 numbers. For example,

12345678, or AB123456.

Question 20- VAT Number if applicable

You must answer this question if the buyer is an organisation that is VAT

registered

Give the VAT registration number. Make sure that the number you provide is a valid

VAT registration number. It should be 9 digits long; for example, 123 4567 89 and

have no alpha characters. It will not start with 0. You can find this number on your

VAT Registration Certificate, or on invoices that you issue to your customers.

If you answered this question, or if you answered question 19, skip to question

22.

Question 21- Identification

You must answer this question if both question 19 and question 20 were left

blank. Otherwise, skip to question 22.

Put a cross in the relevant box to indicate which form of identification the “ID ref

number” relates to. You must also show which country issued the identification to

you.

If the buyer is a business operating in the UK, the Unique Tax Reference and

Partnership / Trust UTR will have been issued by HMRC. They will be 10 digits long;

for example, 12345 67890. You can find these references on correspondence from

HMRC, or by logging on to the buyer’s online account with HMRC.

If the buyer is a UK registered charity, you can find the Charity Registration Number

on the buyer’s Charity Registration Certificate. If you cannot find the certificate, you

can obtain a duplicate by visiting

https://apps.charitycommission.gov.uk/officeforms/CCPortal.ofml

If the buyer is not based in the UK, enter a non-UK reference and show which

country issued it.


Question 22- Is the buyer acting as a trustee?


If the interest in land is acquired on trust and the buyer is a trustee or is one of

several trustees, please answer “Yes”. Answer “No” in all other cases.

Information about how Land Transaction Tax applies in relation to interests in trusts,

can be found at https://beta.gov.wales/land-transaction-tax-trusts-technical-guidance

Question 23- Are the buyer and seller connected?


The definition of 'connected' is covered in Section 1122 Corporation Taxes Act (CTA)

2010. Examples of connected persons include but are not limited to:

a husband, wife or civil partner

a brother or sister, his or her ancestors and lineal descendants

business partners and their relatives

a person and a company that they control

2 companies controlled by the same person

You can access the Corporation Tax Act at




Answer “Yes” if the buyer is connected with the seller in any of the ways defined in

Section 1122 Corporation Taxes Act (CTA) 2010. Otherwise, answer “No”.

SECTION 3a- About the Seller (Individuals)

If the seller is not an individual / group of individuals, you must not complete this

section; complete section 3b instead. The form allows for you to add up to one

additional seller. If there is more than one additional seller, you must also complete

an “LTT: Additional Seller” form. This can be downloaded from


Question 24- Title


If the appropriate title is not shown as an option, you can complete the “Other

(specify)” box instead. If the appropriate title does not fit in this box, use

abbreviations. For example, you can show Captain as Capt.



Question 25- Seller’s first name


Enter the first name of the seller. You may also enter a middle name.

Question 26- Seller’s last name


Enter the last name of the seller.

Question 27- Seller’s address


Enter the address where we can write to the seller after the effective date of the land



SECTION 3b- About the Seller (Organisations)

If the seller is not an individual / group of individuals, you must complete this section.

If you completed section 3a, you must not complete this section; skip to section 3c.

The form allows for you to add up to one additional seller. If there is more than one

additional seller, you must also complete an “LTT: Additional Seller” form. This can

be downloaded from https://beta.gov.wales/paper-return-land-transaction-tax

Question 28- Organisation’s name


Enter the registered legal name of the seller. If the name of the seller is longer than

the space provided, please use abbreviations.

Question 29- Organisation’s trading name

You must answer this question if the trading name is different from the legal

name. Otherwise, skip to question 30.

Enter the trading name of the seller. If the seller has more than one trading name,

enter the trading name that is considered to be the most used / known. If the trading

name is longer than the space provided, please use abbreviations.


Question 30- Organisation’s address


Enter the address where we can write to the seller after the effective date of the land



SECTION 3c- About the Seller’s Agent

If the seller is acting for themselves, and there is therefore no seller’s agent, skip this

section as per the instructions on the form; go to section 4.

Question 31- Seller’s agent’s name

Enter the name of the solicitor or other person acting as agent on behalf of the seller.

If the agent’s name is longer than the space allows for, use abbreviations.

Question 32- Seller’s agent’s address


relevant fields.

SECTION 4- About the Land

You must complete this section. The form allows for you to include one parcel of

land. If there is more than one parcel of land, you must also complete an “LTT:

Additional Land” form. This can be downloaded from https://beta.gov.wales/paper-

return-land-transaction-tax

Question 33- Address of the land being purchased

You must answer this question if the land being purchased has a postal

address. If not, you must complete question 34.


relevant fields.

If you answered this question, skip to question 35. Otherwise, you must

complete question 34.

Question 34- Description of where land is situated

You must answer this question if you did not answer question 33. Otherwise,

skip to question 35.

Please include a description of where the land is situated in relation to prominent

surrounding features. If the space provided is not large enough, please continue your

description on a separate piece of paper.



If there is no postal address, you must provide the Valuation Office with a plan of the land. The plan must include the dimensions, and full description of the boundaries as well as the UTRN that we will provide you with. You can send this information electronically to the HMRC Valuation Office at [email protected]

Question 35- Local authority


Enter the local authority, responsible for the area in which the land is situated. You

must enter the appropriate local authority from the following list:

Blaenau Gwent

Bridgend

Caerphilly

Cardiff

Carmarthenshire

Ceredigion

Conwy

Denbighshire

Flintshire

Gwynedd

Isle of Anglesey

Merthyr Tydfil

Monmouthshire

Neath Port Talbot

Newport

Pembrokeshire

Powys

Rhondda Cynon Taff

Swansea

The Vale of Glamorgan

Torfaen

Wrexham

Question 36- Unique property reference

If you do not have this reference, leave the question blank

Question 37- Title number

If the property is registered give the title number. If more than one title relates to

separate areas of the property, enter all titles here. If the titles will not all fit in the

space provided, please include all titles on a separate sheet of paper entitled “Title

Numbers”.

If you do not have the title numbers, leave the question blank.

Question 38- Is this a Wales-England, cross-title transaction?


If the entire parcel of land and its boundaries are situated wholly within Wales,

answer “No”. If part of the land and its boundaries are situated in Wales, and part in

England (no matter how small that part) then answer “Yes”.

For further help and guidance relating to cross-title transactions, please see

https://beta.gov.wales/cross-border-and-cross-title-transactions-technical-guidance

If you answered “Yes” to this question, you must answer question 39. If you

answered “No”, skip to question 40.

Question 39- Total consideration for the totality of the title

You must answer this question if you answered “Yes” to question 38. If you

answered “No” to question 38, do not answer this question.

Enter the total consideration being made for the totality of the title(s), including the

parts both in England and in Wales.

The amount you enter as consideration should include the following where

appropriate:

the total consideration in money or money’s worth given by the buyer in

whatever form for the land or property

the total consideration given for the assignment

any premium

if there is a legal requirement for LTT to be paid on the market value state the

market value

any VAT actually payable

Where the transaction involves a lease, the consideration should not include rent

Enter the amount rounded down to the nearest pound. Enter the amount in pounds

sterling.

Question 40- Is this agricultural or development land?



Agricultural land is land that is mainly used for agricultural purposes; for example,

the rearing of livestock, the production of crops, or similar activities.

Development land is land that the buyer is purchasing to develop for residential,

commercial or civil engineering purposes. It need not have planning permission.

If the land meets either of these definitions, answer “Yes”. In all other cases, answer

“No”.

If you answered “Yes” to this question, you must answer questions 41a and

41b. If you answered “No”, skip to question 42.

Question 41a- What is the area of the land?


answered “No” to question 40, skip to question 42.

Show either square metres or hectares (you must show which you have used at

question 41b). Do not use any other unit of measurement.

If entering square metres, entre a whole number rounded down to the nearest

square metre and

If entering hectares, round down to the nearest two decimal places.

If you answered this question, you must also answer question 41b.

Question 41b- What is the unit of measurement used at 41a?

You must answer this question if you answered question 41b. Otherwise, skip

to question 42.

Show which unit of measurement you used at question 41a by putting a cross in the

appropriate box.

Question 42- Are there any minerals or mineral rights reserved in the title

deeds?


If there are any minerals or mineral rights reserved, this will be shown on the title

deeds. If such rights exist, answer “Yes” irrespective of who holds those rights.

Otherwise, answer “No”.

Question 43- Is any land exchanged or part exchanged?


If land forms any part of the consideration between the buyer and seller, answer

“Yes”. Otherwise, answer “No”.

If you answered “Yes” to this question, you must also answer question 44.

Otherwise, skip to question 45.

Question 44- Address of land part exchanged

You must answer this question if you answered “Yes” at question 43.

Otherwise, skip to question 45.

Enter the postal address of the land that was part exchanged. Ensure that the house

or building number / name and postcode are entered in the relevant fields. If the land

does not have a postal address, enter a description.

SECTION 5- About the Transaction

You must complete this section

Question 45- What type of chargeable transaction is it?



(a) Put an “X” by “Residential” if the transaction involves:

a building that is used or suitable for use as one or more dwellings, or is in

the process of being constructed or adapted for such use

land that is, or forms part of, the garden or grounds of such a building

described above

an interest in or right over land that subsists for the benefit of such a

building or its grounds (for example a right of way to access the dwelling)

If it is unclear whether the property is “residential”, see the guidance at

(b) Put an “X” by “Higher rate residential” if the transaction meets the definition of

“residential” above, and the transaction is subject to the higher rates because:

the buyer / one of the buyers already holds a major interest in another

property,

the buyer is a limited company

the transaction is subject to the higher rates for any other reason

For further information regarding transactions subject to higher rates, see

https://beta.gov.wales/higher-rates-purchases-residential-property-technical-

guidance

(c) Put an “X” by “Non-residential” if the whole property does not meet the

definition of “residential” at (a) above.

(d) Put an “X” by “Mixed use” if only part of the property meets the definition of

“residential” at (a) above.

https://beta.gov.wales/higher-rates-purchases-residential-property-technical-guidance


If you put an “X” by “Higher rate residential”, you must also answer question

46. In all other cases, skip to question 47.

Question 46- Do you envisage reclaiming the higher rate within three years on

this transaction?

You must answer this question if you answered “(c) Higher rate residential” to

question 45. Otherwise, do not answer this question.

Under certain circumstances, you can claim back the higher rate element of the tax

you paid on this transaction. For further information, see


guidance

If you expect to claim back the higher rate element of the tax you have paid at some

future point (subject to the time limits referred to in the guidance at


guidance , you should answer “Yes”. Otherwise, answer “No”.

Question 47- What kind of transaction is it?



Question 48- Does the total consideration for the transaction include VAT?



For wholly residential transactions, the buyer should not be charged VAT.

The buyer may be charged VAT on non-residential transactions. If you are unsure

about whether VAT is being charged or not, you should consult the seller or your

agent.

If the buyer is being charged VAT, answer “Yes”. Otherwise, answer “No”.

If you answered “Yes”, you must also answer question 49. Otherwise, skip to

question 50.

Question 49- Total amount of VAT paid

You must answer this question if you answered “Yes” to question 48.

Otherwise, do not answer this question; skip to question 50.

Enter the amount of VAT paid, rounded down to the nearest pound. Enter the

amount in pounds sterling.

The total VAT should be the sum total of:





(i) VAT due on consideration other than rent and

(ii) (NPV / (100 + Present VAT Rate)) X Present VAT Rate (i.e. VAT element

of the NPV)

To illustrate how (ii) should be calculated; if the present VAT rate were 20% and the

NPV was £100,000 then the VAT element would be £16,666, calculated as follows:

(£100,000 / (100+20)) X 20 = £16,666

Question 50- What form does the consideration take?


Put an “X” in all appropriate boxes.

Consideration (“payment”) comes in forms other than money (“cash”). Most

transactions will be wholly satisfied by payment in money. But if other types of

consideration are involved in this transaction, you must show all types of

consideration by putting an “X” in the appropriate boxes.

Tax is chargeable on the total of all forms of consideration in money or money’s

worth. Consideration other than money must be valued at its full market value as at

the effective date of the transaction.

Further guidance is available at https://beta.gov.wales/chargeable-transactions-and-

chargeable-consideration-technical-guidance

Question 51- Is this transaction part of the sale of business?


If the buyer’s acquisition of the land is part of an agreement to purchase a business,

you must answer “Yes”. Otherwise, answer “No”.

If you answered “Yes”, you must also answer question 52. Otherwise, skip to

question 55.

Question 52- Does this transaction include matters that are not chargeable to

LTT?


Otherwise, no not answer this question; skip to question 55.

If the buyer is purchasing a business including land, consideration may have been

made in respect of matters other than the land (e.g. goodwill, stock etc)

If consideration is being given for anything other than the land, you must answer

“Yes”. Otherwise, answer “No”.

If you answered “Yes”, you must also answer question 53 and 54. Otherwise,

skip to question 55.

https://beta.gov.wales/chargeable-transactions-and-chargeable-consideration-technical-guidance


Question 53- Indicate any matters that are not chargeable to LTT


Otherwise, do not answer this question or question 54; skip to question 55.

Put an “X” in the relevant boxes, to show what the buyer has given consideration for,

in respect of matters other than the land. Consideration given to such matters is not

chargeable to LTT.

Question 54- Amount of consideration given which you have apportioned to

matters other than the land transaction


Otherwise, do not answer this question; skip to question 55.

Enter the amount of consideration (in money or money’s worth, including VAT) given

in respect of the matters indicated at question 53.


sterling.

Question 55- What is the interest transferred or created?


Put an “X” in the appropriate box (one only)

Question 56- Are there any restrictions, covenants or conditions affecting the

value of the interest transferred or granted?



If you answer “Yes” please give a brief description, for example:

Seller retains the right to buy back at less than market value

lease covenants restrict the use of shop

agricultural occupancy conditions apply

If you answer “No” leave the remainder of the question blank

Question 57- What is the date of contract?


Date must be in dd/mm/yyyy format, for example 01/04/2018.

If the transaction does not involve a contract (for example, a transfer of equity) then

enter the date on which the agreement, leading to the transaction, was made.

In respect of the grant of a lease where no contract is entered into prior to the lease

being granted, then enter the date that the parties agreed to enter into a lease in

principle.

Question 58- Is the transaction pursuant to a previous option agreement?



Answer “Yes” if this transaction results from an option being exercised. An option to

buy land is a binding right granted by a landowner. It gives a prospective buyer an

entitlement to purchase that land before a specified date. In all other cases, answer

“No”.

For further information about options at https://beta.gov.wales/particular-

transactions-technical-guidance#section-4974

Question 59- Do you have a WRA tax opinion for this transaction?



Answer “Yes” if you asked WRA for a tax opinion, prior to the transaction taking

place, and we gave you a formal written response. If you have a tax opinion from us,

the tax opinion reference number will be shown on our formal written response.

Enter the reference number in the space provided. If you did not ask for a tax

opinion, answer “No” and do not put a reference in the box; simply skip to question

60.

For further information https://beta.gov.wales/welsh-revenue-authority-tax-opinions-

service

Question 60- Is this transaction part of a number of other transactions

elsewhere in the UK, but outside Wales?



You need to answer “Yes” if all of the following apply:

there is more than one transaction

the transactions are between the same buyer and seller - or between people

connected with either of them

the transactions form part of a single arrangement or scheme or part of a

series of transactions

at least one of the transactions involves land outside the borders of Wales


https://beta.gov.wales/particular-transactions-technical-guidance#section-4974

https://beta.gov.wales/particular-transactions-technical-guidance#section-4974

https://beta.gov.wales/welsh-revenue-authority-tax-opinions-service

https://beta.gov.wales/welsh-revenue-authority-tax-opinions-service

For further information on linked transactions, see https://beta.gov.wales/cross-

border-and-cross-title-transactions-technical-guidance

Question 61- Are you claiming tax relief?



Answer “Yes” if the buyer is claiming any of the tax reliefs available under the LTT

rules. You should note that a relief is not the same as an exemption. If a transaction

is exempt from LTT, there is no need to file a return at all.

If the buyer is not claiming a relief, answer “No”.

If you answered “Yes”, you must also answer question 62 to 63 inclusive. If

you answered “No”, skip to question 65.

Question 62- What tax relief(s) are you claiming?


answered “No” to question 61, do not answer this question; skip to question

65.

Enter the relevant codes, from the table below, for all reliefs that the buyer is

claiming. Separate the codes you enter with a comma. For example; 011, 057, 058.

Code Description

001 Full Relief: Certain acquisitions of dwellings relief: relief for housebuilder buying from individual acquiring new dwelling; relief for acquisition by property trader from individual acquiring new dwelling

002 Full Relief: Charities relief

003 Full Relief: Group relief

004 Full Relief: Relief for certain transactions relating to social housing: relief for certain acquisitions by social housing providers

005 Full Relief: Pre-completion transactions - relief for original buyer: qualifying subsales

006 Full Relief: Pre-completion transactions - relief for transferor: assignment of rights

007 Full Relief: Sale and leaseback relief

008 Full Relief: Alternative property finance relief: land sold to financial institution and leased to a person

009 Full Relief: Alternative property finance relief: land sold to financial institution and re-sold to a person

010 Full Relief: Alternative finance investment bonds relief: relief for the first transaction; relief for the second transaction



011 Full Relief: Relief for acquisitions by certain health service bodies; relief for acquisitions involving public bodies

021 Full Relief: Incorporation of limited liability partnership

022 Full Relief: Reconstruction relief

023 Full Relief: Building societies relief; Co-operative and community benefit society and credit union relief; Friendly societies relief.

024 Full Relief: Open ended investment company relief: amalgamation of an authorised unit trust with an OEIC; conversion of an authorised unit trust to an OEIC .

025 Full Relief: Relief for compulsory purchase facilitating development

026 Full Relief: Relief for compliance with planning obligations

027 Full Relief: Certain acquisitions of dwellings relief: relief for acquisition by property trader from individual where chain of transactions breaks down; relief for acquisition by property trader from personal representative

028 Full Relief: Certain acquisitions of dwellings relief: relief for acquisition by employer in case of relocation of employment; relief for acquisition by property trader in case of relocation of employment

029 Full Relief: Relief for certain transactions relating to social housing:

Shared ownership lease - relief for certain staircasing transactions;

Shared ownership lease - relief for certain reversions;

Shared ownership trusts - relief for certain staircasing transactions;

Shared ownership trusts - relief for transfer upon termination.

030 Full Relief:

Relief for property accepted in satisfaction of tax;

Relief for acquisitions by bodies established for national purposes;

Trunk roads relief;

Relief for acquisitions in consequence of reorganisation of parliamentary constituencies;

Lighthouses reliefs;

Visiting forces and international military headquarters reliefs;

Diplomatic relief.

050 Partial Relief: Relief for acquisitions involving multiple dwellings

051 Partial Relief: Certain acquisitions of

dwellings relief: relief for housebuilder buying from individual acquiring new dwelling; relief for acquisition by property trader from individual acquiring new dwelling.

052 Partial Relief: Charities relief: charity not a qualifying charity; joint purchase by qualifying charity and another person

053 Partial Relief: Pre-completion transactions - relief for transferor: qualifying subsales

054 Partial Relief: Acquisition relief

055 Partial Relief: Certain acquisitions of dwellings relief: relief for acquisition by property trader from individual where chain of transactions breaks down; relief for acquisition by property trader from personal representative

056 Partial Relief: Certain acquisitions of dwellings relief: relief for acquisition by employer in case of relocation of employment; relief for acquisition by property trader in case of relocation of employment

057 Partial Relief: Relief for transactions entered into by persons exercising collective rights

058 Partial Relief: Relief relating to contingent consideration in case of a right to buy transaction

059 Partial Relief: Relief for certain transactions relating to social housing:

Shared ownership lease - election for market vale treatment of premium where staircasing allowed

Shared ownership lease - election for market value treatment

Shared ownership trusts - election for market value treatment

099 Full Relief: Other

Question 63- Is relief being claimed on part of the transaction only?



65.


If the relief does not reduce the amount of consideration chargeable to LTT to £0,

answer “Yes”. Otherwise, answer “No”.

If the buyer is not claiming a relief, answer “No”.

If you answered “Yes”, you must also answer question 64. If you answered

“No”, skip to question 65.

Question 64- Enter the amount remaining chargeable

You must answer this question if you answered “Yes” to question 61, and you

answered “No” to question 63. Otherwise, do not answer this question; skip to

question 65.

Enter the amount of consideration (in money or money’s worth, including VAT),

which remains chargeable to LTT after all applicable reliefs (entered at question 62)

have been taken into account.

Enter the amount rounded down to the nearest whole pound. Enter the amount in

pounds sterling.

Question 65- Is the transaction linked to any others?



You need to answer ’Yes’ if all of the following apply:

there is more than one transaction

the transactions are between the same buyer and seller - or between people

connected with either of them

the transactions form part of a single arrangement or scheme or part of a

series of transactions


For further information on linked transactions, see https://beta.gov.wales/land-

transactions#section-5054

If you answered “Yes”, you must also answer question 66 - 68. If you answered


Question 66- What is the total consideration or value in money or money’s

worth, including VAT paid but excluding rent, for all linked transaction?



69.

Enter the amount of consideration, chargeable in respect of all linked transactions,

even if some of those linked transactions have already been reported on a Land

Transaction Tax Return in the past.


appropriate:

the total consideration in money or money’s worth given by the buyer in

whatever form for the land or property



the total consideration given for the assignment(s)

any premium


market value


Where the transaction involves a lease, it should not include rent

Enter the amount rounded down to the nearest whole pound. Enter the amount in

pounds sterling.

For further information on consideration, see the guidance at

https://beta.gov.wales/chargeable-transactions-and-chargeable-consideration-

technical-guidance

Question 67- What is the UTRN of the linked transactions?



69.

Enter the UTRN of any linked transactions that you have already reported to the

WRA in the past. You will find the UTRN on the Land Transaction Tax Certificate we

sent you.

If there is more than one linked transaction in the past, please write “see appendix”

and include a separate sheet of paper, with your return, showing the UTRNs for all

linked transactions.

If you are notifying the WRA of linked transactions that all have the same effective

date, you should complete one return for all transactions. You will need to use the

“LTT: Additional Land” form; this can be found at https://beta.gov.wales/paper-return-

land-transaction-tax



Question 68- What is the total NPV of the rent payable over the terms of all

linked leases to the nearest whole pound?



69.

If none of the linked transactions involve rent in respect of non-residential or mixed-

use land, answer “£0”

If any of the linked transactions do involve rent in respect of non-residential or

mixed-use land, you must enter the total NPV of the rent payable over the terms of

all linked leases to the nearest pound. To calculate this value, you will need to

ascertain the NPV for each applicable transaction, as though they were not linked,

and enter the sum of all NPVs.






You may find it helpful to use our LTT calculator; which will calculate the NPV if you

enter the correct details. See https://lttcalculator.wra.gov.wales/

Question 69- Is any part of the consideration, other than rent, contingent or

dependent on uncertain future events?



Answer “Yes” if any of the consideration to be paid is dependent on uncertain or

contingent future events. Otherwise, answer “No”. Examples of contingent events

include but are not limited to:

£x additional amount is to be paid, if planning permission is obtained within x

number of years

£x additional amount is to be paid, if profits exceed x amount

Further information on contingent consideration can be found at LTTA/2440:


technical-guidance



Question 70- Have you agreed with the WRA that you will pay on a deferred

basis?



71.


Answer “Yes” if the WRA have formally granted you permission to defer LTT

chargeable to contingent consideration. Otherwise, answer “No”.

For further information on deferred payments see LTTA/6160:

https://beta.gov.wales/land-transaction-tax-returns-and-payments-technical-

guidance#section-5577



Question 71- Is this return a further return to a previous transaction?



Answer “Yes” if you have already submitted a return in respect of this transaction,

and this return is a “further return” that the buyer is obliged to file under the LTT

rules. For example:

Higher rates are due on an intermediate transaction (for further information,

see the guidance at https://beta.gov.wales/higher-rates-purchases-residential-

property-technical-guidance

A return has already been submitted in respect of the acquisition of an option,

and a further return is now due in respect of the exercise of that option (for

further information on options, see LTTA/2440:

https://beta.gov.wales/particular-transactions-technical-guidance#section-

4974)

A return has been submitted in respect of a lease running for an indefinite

period of time, and a further return is now due because the lease has run for

another 12-month period (for further information about leases, see

https://beta.gov.wales/land-transaction-tax-leases-technical-guidance

These are not the only examples of why a further return may be due.

If this is not a further return, answer “No”.



Question 72- If a previous return was made for the transaction please enter the

UTRN of the return(s)



74.

Enter the UTRN of any linked transactions that you have already reported to the

WRA in the past. You will find the UTRN on the Land Transaction Tax Certificate we

sent you.

If there is more than one previous return related to this return, please write “see

appendix” and include a separate sheet of paper, with your return, showing the

UTRNs for all previous returns.

Question 73- State the reason why a further return is required



74.

Briefly state the reason why you have sent us a further return. For example, “Paid

main rate on a Buy to Let; the purchase of a main residence means that higher rate

is now retrospectively due”.



https://beta.gov.wales/land-transaction-tax-leases-technical-guidance


SECTION 6- About the Lease

You must complete this section if you selected option (c) or (d) at question 45 and

you selected option (b) at question 47. In any other case, skip to section 7a.

Question 74- If the lease was granted as a replacement for a lease of the same

property to the buyer, was any term surrendered?



Answer “Yes” if both of the following criteria apply:

The lease was granted as a replacement for a lease of the same property to

the buyer and

a term (of any length) of the pre-existing lease was surrendered by the buyer

For example- Buyer A is a tenant in Property B which is leased to him by Seller C.

On 01/01/2028 Buyer A has 12 months remaining on the existing lease of Property

B, which is due to expire on 31/12/2028. Seller C grants a replacement lease of

Property B to Buyer A, lasting for a further 10 years, to commence on 01/01/2028

and end on 31/12/2037. In accepting the new lease, Buyer A agrees to surrender the

remaining 12 months of the old lease.

If either one of the criteria do not apply, answer “No”



Question 75- Rent returned under the previous lease



77.

If a return was filed in respect of the previous lease, enter the value of NPV returned

to WRA (or HMRC if the return was filed prior to the introduction of LTT). This will

usually be the amount entered at question 101 on the previous return.


sterling.

If a return was not filed in respect of the previous lease, enter “£0”

Question 76- Period of the unexpired term of the lease (in months)



77.

Show the number of months (rounded down to the nearest whole month) that

remained under the old lease, as at the date when the replacement lease

commenced.

For example; a lease of Building B, made by Seller C to Buyer A is due to expire on

31/12/2028. A new lease is granted by Seller C to Buyer A, which commences on

01/01/2028 and expires on 31/12/2037. Buyer A agrees to surrender remaining

months remaining of the existing lease (01/01/2028 – 31/12/2028). Buyer A or his

agent should enter 12 months at question 76.

Question 77- Is there a break-clause in the lease?



Answer “Yes” if any of the following criteria apply:

The terms of the lease allow the landlord to end the lease early

The terms of the lease allow the tenant to end the lease early

The terms of the lease allow either the landlord or the tenant to end the lease

early

If none of the above apply, answer “No”.



Question 78- What is the break clause type?



80.


Show the type of break clause applicable to the lease by putting an X in the

appropriate box as follows:

If the terms of the lease allow the landlord to end the lease early, put an “X” in

the “Landlord” box

If the terms of the lease allow the tenant to end the lease early, put an “X” in

the “Tenant” box

If the terms of the lease allow either the tenant or the landlord to end the lease

early, put an “X” in the “Either” box

Question 79- What is the date of the break clause



80.

Enter the earliest date on which the break-clause may be effected.

Enter the date using the format dd/mm/yyyy. For example, 01/04/2028.

Question 80- Do any of the following conditions apply to the lease?



The following table should help you understand whether the conditions shown apply

to the lease:

Box on Form Description

Option to review This is where a clause in the lease allows the buyer or seller to review the rent payable at stated interim periods

Market rent This is where the rent is based on the going market rate for similar properties in a similar location

Turnover rent This is where the rent payable by the tenant is based wholly, or partly, on the turnover of the tenant’s business, being operated from the premises

Unascertainable rent This is where the rent to be paid over the entire term of the lease cannot be quantified at the date of the grant of the lease, because the lease provides for the rent to be determined in relation to contingent events (for example, rents are to be reviewed on the basis of market rent, CPI or RPI)

Contingent reserved rent

This is rent which is not fixed from month to month but varies according to the criteria set by the lease (for example, rent is indexed to income)

Question 81- Does the lease contain a rent review?



A rent review is a periodic adjustment of rent (for example, to ensure that the rent is

in line with market values). The frequency of such reviews (if any) is determined by

the terms of the lease agreement.

If the lease agreement provides for rent reviews, answer “Yes”. Otherwise, answer

“No”.



Question 82- Rent review frequency (years)



85.

Show the frequency of rent reviews following the first rental review. For example, if a

lease commences and the first rent review is due one year later, and every five years

thereafter, the buyer or his agent should enter “5” in answer to this question.

If the rent review frequency is variable enter the lowest frequency, excluding the

period between the commencement of the lease and the first rent review. For

example, if a lease commences and the first rent review is due one year later and

five years after that, then six years after that, then seven years after that; the buyer

or his agent should enter “5” in answer to this question.

Question 83- What is the rent review type?



85.


The following table should help you understand whether the conditions shown apply

to the lease:


Open market The rent review seeks to ascertain the open market value of rent in respect of the property in question (i.e. in line with other similar properties in similar locations), and adjusts the rent accordingly (if necessary)

RPI / CPI etc The rent review adjusts the rental payments in line with trends in the CPI / RPI or other indexes since the last review / commencement of the lease

Other Any method of reviewing the rent due, other than “Open market” or “RPI / CPI etc”

Question 84- What is the rent review type?



85.

Enter the date of the first rent review following the commencement of the lease.


Question 85- Is there a service charge in the lease?



A service charge is usually a charge made by the landlord to the buyer, in addition to

rent, to cover maintenance, insurance or other building related costs. If the lease

agreement provides for the landlord to charge the buyer a service charge, answer

“Yes”.

If the lease agreement does not specifically provide for a service charge; or there is

a service charge but the monetary value cannot be ascertained, then answer “No”.

If you answered “Yes”, show the annual value of the service charge in the box

provided. Note:

If the service charge is variable throughout the term of the lease, show the

average value per annum

Enter the amount rounded down to the nearest pound. Enter the amount in

pounds sterling.

If you answered “No”, leave the “annual service charge” box blank and skip to

question 86

Question 86- Is there any other form of consideration paid from the tenant to

the landlord?


If the lease provides for consideration other than rent, and other than a cash

premium, to be paid by the tenant to the landlord, you should answer “Yes”.

If the lease only provides for rent and a cash premium, to be paid by the buyer to the

landlord, answer “No”.



Question 87- Show other considerations paid from the tenant to the landlord



88.


The following table should help you understand whether the forms of consideration

shown on the return form are applicable to the lease agreement:


Debt The tenant has agreed to take legal responsibility for any debts that previously belonged to the landlord (e.g. mortgage debts, loan debts)

Building Works The tenant agrees to undertake building works for the landlord, in respect of the property which is the subject of the transaction, or any other property

Employment The tenant agrees to hire persons (whether as self employed, or employees of the tenant’s business) according to terms agreed with the landlord

Other Land The tenant agrees to grant any kind of interest in land to the landlord

Shares (Listed) The tenant agrees to transfer shares, in listed companies, to

the landlord

Shares (Unlisted) The tenant agrees to transfer shares, in unlisted companies, to the landlord

Other (e.g. Market Value)

The tenant agrees to give any other form of consideration, not listed in this table, that is not a premium or rent (for example, a payment that is linked, in some way, to the market value of the property)

Services The tenant agrees to provide services other than building works to the landlord

Contingent Consideration

The tenant agrees to give consideration (in whatever form, including cash) to the landlord, on condition that specific contingent events take place. See notes on question 69 for further information.

Question 88- Is there any other form of consideration paid from the landlord to

the tenant?


If the lease provides for consideration other than rent, and other than a cash

premium, to be paid by the landlord to the tenant, you should answer “Yes”.

If the lease only provides for rent and a cash premium, to be paid by the landlord to

the buyer, answer “No”.



Question 89- Show other considerations paid from the landlord to the tenant



90.


The following table should help you understand whether the forms of consideration

shown on the return form are applicable to the lease agreement:


Debt The landlord has agreed to take legal responsibility for any debts that previously belonged to the tenant (e.g. mortgage debts, loan debts)

Building Works The landlord agrees to undertake building works for the tenant, in respect of the property which is the subject of the transaction, or any other property

Employment The landlord agrees to hire persons (whether as self employed, or employees of the tenant’s business) according to terms agreed with the tenant

Other Land The landlord agrees to grant any kind of interest in land to the tenant

Shares (Listed) The landlord agrees to transfer shares, in listed companies,

to the tenant

Shares (Unlisted) The landlord agrees to transfer shares, in unlisted companies, to the tenant

Other (e.g. Market Value)

The landlord agrees to give any other form of consideration, not listed in this table, that is not a premium or rent (for example, a payment that is linked, in some way, to the market value of the property)

Services The landlord agrees to provide services other than building works to the tenant

Contingent Consideration

The landlord agrees to give consideration (in whatever form, including cash) to the tenant, on condition that specific contingent events take place. See notes on question 69 for further information.

SECTION 7a- About the Calculation (Where and Lease is Involved)

If you answered “(b) Grant of a lease (new or replacement)” at question 47, you must

complete this section (and, potentially, section 7b). Otherwise, go to section 7c.

Question 90- What is the lease start date?


Enter the start date as shown in the lease. If the lease shows that the start date is in

the future, please enter the future date.


Question 91- What is the lease end date?


Enter the end date as shown in the lease. Do not enter the break point or review

date.


SECTION 7b- About the Calculation (Where a Non-Residential

Lease is Involved)

If you answered either “(c) Non-residential” or “(d) Mixed use” at question 45, and

you answered “(b) Grant of a lease (new or replacement)” at question 47, you must

complete this section. Otherwise, skip to section 7c.

Question 92- What is the term of the lease (years)?


Enter the number of years that the lease is due to run for, ignoring any potential early

termination.

If the lease is not due to run for a whole number of years, round down to the nearest

whole year. For example, if the lease is due to run for 10 years and 6 months, enter

“10”

Question 93- Rent year 1


Enter the amount of rent payable for the first year of the lease, including any VAT

payable on the rent. Also include any rent that is contingent on uncertain events.

Enter the amount in pounds sterling. Do not round to the nearest pound; show the

pence after the decimal point.

If no rent is payable to the landlord in respect of the first year, enter “£0"







If no rent is payable to the landlord in respect of the second year, enter “£0"







If no rent is payable to the landlord in respect of the third year, enter “£0"







If no rent is payable to the landlord in respect of the fourth year, enter “£0"







If no rent is payable to the landlord in respect of the fifth year, enter “£0"

Question 98- Relevant rent


Enter the “relevant rent”

For guidance on calculating “relevant rent”, see

https://beta.gov.wales/landtransaction-tax-leases-technical-guidance



Question 99- Highest rent payable in any consecutive 12 months, in the first

five years


Enter the highest amount of rent payable in any 12 consecutive months, within the

first five years of the lease agreement.

Please note that this is not necessarily the highest value you entered for question 93

– 97 inclusive. For example, a lease agreement due to run for two years might

provide for payments to be made as follows:

First year: First 6 months £0

First year: Second 6 months £10,000

Second year: First 6 months £10,000

Second year: Final 6 months £0

In this example, the rent for year 1 is £10,000. The rent for year 2 is also £10,000.

However, the highest rent payable in any 12 month consecutive period is £20,000.



Question 100- What is the Net Present Value

https://beta.gov.wales/landtransaction-tax-leases-technical-guidance


You may find it helpful to use our LTT calculator; which will calculate the NPV for you

if you enter the correct details. See https://lttcalculator.wra.gov.wales/

SECTION 7c- About the Calculation (All Transactions)


Question 101- What is the effective date of the transaction?


The effective date of a land transaction is usually the date that the transaction is

completed; not the date contracts are exchanged. However, there are also rules

around “substantial performance” which mean that that LTT could be due at an

earlier date.

For further information regarding “substantial performance” see

https://beta.gov.wales/particular-transactions-technical-guidance


Question 102- What is the total consideration, other than rent, in money or

money’s worth, including any VAT actually payable, for the transaction

(including any premiums)?


Enter the total consideration being made for as much of the transaction that is

subject to LTT (exclude any part of the transaction that is subject to SDLT in England

or LBTT in Scotland)


appropriate:

the total consideration in money or money’s worth given by the buyer, in

whatever form, for the land or property

the total consideration given for the assignment

any premium


market value


Where the transaction involves a lease, it should not include rent


sterling.

For further information on consideration, see the guidance at


technical-guidance

Question 103- What is the total tax due for this transaction?


Enter the amount due under LTT.



You may find it helpful to use our LTT calculator; which will calculate the tax for you,

if you enter the correct details. See https://lttcalculator.wra.gov.wales/

SECTION 8- Final Questions and Declaration


Question 104- If you have included any supplementary returns please indicate

how many


You may have included, with your return:

supplementary documents including additional buyer / seller forms

a separate sheet including all title references and / or UTRNs regarding

linked transactions

Show the number of additional sheets included with your LTT return. If you have not

included any additional sheets, show a “0” in the box.

Question 105- To which address(es) should we send the Land Transaction Tax

Certificate?



You will need a Land Transaction Certificate when registering the interest with

HMLR.

Tell us which address you would like us to send your certificate to.

Question 106- If you have entered more than one land / property transaction

please indicate whether you want the WRA to issue one certificate for all

properties / land or if you want an individual certificate for each property / land



You will need a Land Transaction Certificate when registering the interest with

HMLR.

Tell us whether you would like one certificate in respect of all land / property

transactions represented on your LTT Return, or whether you would like separate

certificates for each.

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