CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Welsh Assembly Seeks Guidance On Land Transaction Tax

Welsh Assembly Seeks Guidance On Land Transaction Tax

27 December 2016


A Welsh parliamentary committee has called for clear guidance on how land transaction tax, which will replace UK stamp duty in Wales, will work.

Wales is introducing land transaction tax separate from the UK, as part of an agreement with the UK on tax devolution.

In agreeing with the general principles of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill, the Welsh Finance Committee recommended that the Welsh Revenue Authority (WRA), a new organization established to collect devolved taxes, should work closely with professional bodies from the outset to establish guidance, including for properties on the border with England.

Simon Thomas, the Chair of the Finance Committee, said: "We want to see assurances that the Welsh Revenue Authority, which will be responsible for collecting taxes raised, will be ready to collect taxes and offer advice from day one. We also believe that the issue of cross-border properties should be cleared up as a matter of urgency as we heard a confusing explanation of what property buyers would owe and to whom."

TAGS: Finance | tax | property tax | United Kingdom | stamp duty

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »