Being aware of a trap is the first step in avoiding it, and that is just as true when it comes to tax. Ignorance is no defence when the tax authorities issue penalties for compliance errors, and public authorities are afforded no special allowances.
Land Transaction Tax, or LTT, is a tax on the purchase of land and buildings in Wales, and public authorities are subject to the same rules as everyone else. As with all taxes, those rules are complex, so it is important for officers involved in land and property transactions to understand when LTT applies and what must be reported.
This introductory online training course will provide a practical introduction to LTT, including what it is, when it is triggered, and how it is applied and calculated. It will also explain the terminology used in the legislation and by the Welsh Revenue Authority, along with the reporting requirements, what must be disclosed, and when.
Key topics in the Land Transaction Tax training include:
- what LTT is
- when LTT is triggered
- how LTT is applied and calculated
- the terminology used in the legislation and by the Welsh Revenue Authority
- reporting requirements
- what must be disclosed to the Welsh Revenue Authority and when
- how the tax calculation differs for rental payments compared with a lump sum premium
- the reliefs available on some of the more common public authority land transactions
Who will benefit from attending this Land Transaction Tax (LTT) VAT training?
This course will be relevant to public authority officers involved in land and property matters in Wales who need an introduction to Land Transaction Tax and its reporting requirements.
PSTAX Pop-Up training details
Pop-Up training sessions are designed to give delegates practical guidance on specific tax issues and recurring areas of risk.
The Land Transaction Tax (LTT) session will last up to 90 minutes with opportunities for delegate questions. The training slides and Q&A will be sent to delegates after the event.
The cost of attending Pop-Up training is £165 plus VAT for PSTAX Club subscribers and £180 plus VAT for other delegates. A 10% discount is available for bookings of two or more.
PSTAX Club subscribers can also use Learning Vouchers for Pop-Up training events.