Please note: The WRA holds detailed information about people and organisations that pay devolved taxes in Wales. Agents should ensure they provide a copy of the WRA privacy notice to taxpayers so they understand what personal information is being collected and processed.

About the agent

Agent’s name and address

This is pre-populated with the information you provided when you registered. You can change this by contacting the WRA.

Agent’s reference (optional)

This is your reference number. If the reference is longer than the space provided, use abbreviations.

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.

    Further help and guidance on trusts.

  • Where no trusts are involved

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

    You can select additional buyers from the summary page of the draft return.

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.

Buyer’s first name

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

Buyer’s last name

Enter the last name of the buyer.

Buyer’s address

Enter the buyer’s main residence from the effective date of the transaction. Use the address lookup to find your property, this helps to make sure the data is accurate. If you can’t find you the address in the lookup you can enter it manually.

Buyer’s date of birth

You must answer this question.

Enter the date of birth for the buyer, using the format dd/mm/yyyy. For example, 28/06/1979.

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.

Buyer’s National Insurance Number

You must answer this question if the buyer is an individual who has a permanent National Insurance number.

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 an employer, or any letter from the Department for Work and Pensions or Jobcentre plus.

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

  • Other forms of Identification
    Select the identification number that you have or select 'Other' and 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

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.
 
How Land Transaction Tax applies in relation to interests in trusts.

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

View the Corporation Tax Act
 
Further information about linked transactions LTTA/2040
 
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'.

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; select Individual.

    Further help and guidance on trusts.

  • Where no trusts are involved

    If the buyer is not an individual / group of individuals, you must complete this section. You can select additional buyers from the summary page of the draft return.

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.

Organisation’s trading name

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

Organisation’s address

Enter the address where we can write to the buyer after the effective date of the land transaction. Use the address lookup to find your property so that we have accurate data. If you can’t find you the right address in the lookup you can enter it manually.

  • 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'.

    In all other cases, answer 'No'.

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

  • Companies House registration number if applicable

    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.

  • VAT number if applicable

    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 you/your clients VAT Registration Certificate, or on invoices that invoices.

  • Other identification

    If the organisation does not have a VAT or Companies House number you can provide a different form of identification.

    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.

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

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.

How Land Transaction Tax applies in relation to interests in trusts.

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

View the Corporation Tax Act

Further information about linked transactions LTTA/2040:

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'.

About the seller (individuals)

You can add additional sellers by returning to the summary page of your draft return and selecting ‘add another seller’

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.

Seller’s first name

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

Seller’s last name

Enter the last name of the seller.

Seller’s address

This is the seller’s main residence from the effective date of the transaction.

About the seller (organisations)

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.

Organisation’s trading name

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.

Organisation’s address

Enter the address where we can write to the seller after the effective date of the land transaction. Use the address lookup to find your property so that we have accurate data. If you can’t find you the right address in the lookup you can enter it manually.

About the seller’s agent

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.

Seller’s agent’s address

Use the address lookup to find your property so that we have accurate data. If you can’t find the right address in the lookup you can enter it manually.

About the land

You can add additional parcels of land by returning to the summary screen for each draft return.

Address of the land being purchased

Use the address lookup to find your property so that we have accurate data. If you can’t find you the right address in the lookup you can enter it manually.

Description of where land is situated

If the land does not have a postal address include a description of where the land is situated in relation to prominent surrounding features.

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 Valuation Office Agency at sdlt@voa.gsi.gov.uk

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 list.

Unique property reference

This will be automatically populated when you select an address using the postcode look up. If you have entered the address manually you need to manually enter the unique property reference number.

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.

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'.

Further help and guidance relating to cross-title transactions

Total consideration for the totality of the title

If this is a cross-title transaction, 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.

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'.

What is the area of the land?

If the transaction relates to agricultural or development land you must enter the area. Select either square metres or hectares. Do not use any other unit of measurement.

  • If entering square metres, enter a whole number rounded down to the nearest square metre 
  • If entering hectares, round down to the nearest 2 decimal places.  

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'.

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'.

Address of land part exchanged

If the land is exchanged enter the postal address of the land that was part exchanged.

About the transaction

What type of chargeable transaction is it?

  1. 'Residential' (main rates and higher rates) 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)
  2. 'Non-residential' if the whole property does not meet the definition of 'residential' at (1) above.
  3. 'Mixed use' if only part of the property meets the definition of 'residential' at (1) above.
  4. Further information regarding transactions subject to higher rates.
    • If you have selected no, then you will be able to continue to the next section and ‘main rates’ will be applied in the calculation.
    • If you select yes then ‘higher residential rates’ will be applied in the calculation. Please specify whether you envisage reclaiming the higher rate within the next 3 years on this transaction.

Do you envisage reclaiming the higher rate within 3 years on this transaction?

If you have selected 'Higher rate residential' you must answer this question. Under certain circumstances, you can claim back the higher rate element of the tax you paid on this transaction.

Further information on higher rates for purchases of residential property.

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), you should answer 'Yes'.

Otherwise, answer 'No'.

What type of transaction is it?

Select one option.

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'.

What is the interest transferred or created?

Select one option. 

Are there any restrictions, covenants or conditions affecting the value of the interest transferred or granted?

If 'Yes' 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

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'.

Further information about options.

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'.

Further information on WRA tax opinions.

Is this transaction part of a number of other transactions elsewhere in the UK, but outside Wales?

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

Otherwise, answer 'No'.

Further information on linked transactions

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

Otherwise, answer “No”.

Further information on linked transactions

What is the total consideration or value in money or money’s worth, including VAT paid but excluding rent, for all linked transactions?

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.

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(s)
  • 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, it should not include rent.

Enter the amount rounded down to the nearest whole pound.

Further information on consideration

What is the UTRN of the linked transactions?

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.

If there is more than one linked transaction in the past, Include all the UTRNs.

If you are notifying us of linked transactions that all have the same effective date, you should complete one return for all transactions. You can add additional land on the summary page for your draft return.

Further information about linked transactions

What is the total NPV of the rent payable over the terms of all linked leases to the nearest whole pound?

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.

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 contingent or uncertain. 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 

Have you agreed with the WRA that you will pay on a deferred basis?

Answer 'Yes' if the WRA have formally granted you permission to defer LTT chargeable to contingent consideration.

Otherwise, answer 'No'.

Further information on deferred payments

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 (see the 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 (further information on options
  • 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 (further information about leases)

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

If this is not a further return, answer 'No'.

If a previous return was made for the transaction please enter the UTRN of the return(s)

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. 

State the reason why a further return is required

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”.

Further information about linked transactions

Total amount of VAT paid

If VAT is being paid, enter the amount of VAT paid, rounded down to the nearest pound.

The total VAT should be the sum total of:

  1. VAT due on consideration other than rent and
  2. (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

What form does the consideration take?

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 selecting all appropriate options.

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 on chargeable consideration.

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'.

Does this transaction include matters that are not chargeable to LTT?

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'.

Indicate any matters that are not chargeable to LTT

Select 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.

Amount of consideration given which you have apportioned to matters other than the land transaction

Enter the amount of consideration (in money or money’s worth, including VAT) given in respect of the matter that you indicated were not chargeable to LTT.

Enter the amount rounded down to the nearest pound.

About the lease

The “About the Lease” section will be removed from the LTT return from 1 March 2019. Information required for the calculation of LTT relating to the lease will still be collected as before in the “About the calculation” section.

About the calculation (where a lease is involved)

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.

What is the lease end date?

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

If the transaction is the grant of a new mixed/non-residential lease, where lease start date is before the effective date, confirm which date to use for the purposes of the NPV calculation - either the lease start or effective date.

The most common scenario where the lease start date should be selected are holdover leases (LTTA/4060 Tenant holding over: new lease backdated to previous year) and where a lease continues after a fixed term and a new lease is granted (LTTA/4030 Duration of Leases and overlapping leases: fixed terms, continuing leases, grant of new lease, indefinite terms, successive leases etc.). For most other transactions the 'Calculate from the effective date of transaction' would be the appropriate option.

About the calculation (Where a non-residential lease is involved)

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'.

Rent year 1

Enter the amount of rent payable for the 1st year of the lease. 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 1st year, enter '£0'.

Rent year 2

Enter the amount of rent payable for the 2nd year of the lease. 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 2nd year, enter '£0'.

Rent year 3

Enter the amount of rent payable for the 3rd year of the lease. 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 3rd year, enter '£0'.

Rent year 4

Enter the amount of rent payable for the 4th year of the lease. 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 4th year, enter '£0'.

Rent year 5

Enter the amount of rent payable for the 5th year of the lease. 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 5th year, enter '£0'.

Relevant rent

Enter the 'relevant rent'.

The relevant rent is the average annual rent payable across the full term of the lease.

Further information on 'relevant rent'.

Enter the amount in pounds sterling. Do not round to the nearest pound, show the pence after the decimal point.

Highest rent payable in any consecutive 12 months, in the 1st 5 years

Enter the highest amount of rent payable in any 12 consecutive months, within the 1st 5 years of the lease agreement.

Please note that this is not necessarily the highest value you entered for the rent years provided. For example, a lease agreement due to run for 2 years might provide for payments to be made as follows:

1st year: 1st 6 months £0
1st year: 2nd 6 months £10,000
2nd year: 1st 6 months £10,000
2nd 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.

Enter the amount in pounds sterling. Do not round to the nearest pound, show the pence after the decimal point.

What is the net present value?

You may find it helpful to use our LTT calculator.

About the calculation (all transactions)

What is the date of contract?

Date must be in dd/mm/yyyy format, for example 01/04/2018 and must be today’s date or a date in the past. You can enter a future date or leave blank to demonstrate likely tax amount. However, at the point of submission the actual date must be input.

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.

Further information regarding 'substantial performance'.

Date must be in dd/mm/yyyy format, for example 01/04/2018. You can enter a future date or leave blank to demonstrate likely tax amount. However, at the point of submission the actual date must be input.

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.

For further information on available reliefs, see https://beta.gov.wales/land-transaction-tax-professionals#Reliefs. Please note there is no First Time Buyer’s Relief in Wales.

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

What tax relief(s) are you claiming?

Select all the reliefs that the buyer is claiming for:

Code Description of relief
001 Certain acquisitions of dwellings
002 Charities relief
003 Group relief
004 Social housing
005 Pre-completion – qualifying subsales
006 Pre-completion – assignment of rights
007 Sale and leaseback relief
008 APFR: leased to person
009 APFR: re-sold to person
010 AFIBR: first and second
011 Health service and public bodies
021 Incorporation of LLP
022 Reconstruction
023 Building societies, friendly societies
024 OEIC
025 Compulsory purchase
026 Planning obligations
027 Property trader
028 Relocation of employment
029 Shared ownership
031 Relief contained in schedule 22 LTTA and diplomatic relief
050 Partial - Multiple dwellings
051 Partial - Certain acquisitions of dwellings
052 Partial - Charity relief
053 Partial - Pre-completion
054 Partial - Acquisition relief
055 Partial - Property trader
056 Partial - Relocation of employment
057 Partial - Collective rights
058 Partial - Contingent consideration
059 Partial - Shared ownership

Is relief being claimed on part of the transaction only?

If the relief does not reduce the amount of consideration chargeable to LTT to £0, answer “Yes”. Otherwise, answer “No”.

Enter the amount remaining chargeable

Enter the amount of consideration (in money or money’s worth, including VAT), which remains chargeable to LTT after all applicable reliefs have been taken into account.

Enter the amount rounded down to the nearest whole pound.

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).

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, it should not include rent.

Enter the amount rounded down to the nearest pound.

Further information on consideration