Welsh land transaction tax raises £226.9m in first year

The Welsh Revenue Authority (WRA) has published its first annual statistics covering the year 2018-19 for land transaction tax including data for all local authorities in Wales.

These show that there were 61 750 transactions for land transaction tax. They raised £226.9m tax for sales and leases of property and land in Wales of which £154.5m tax was due for residential transactions and £72.5m for non-residential transactions.

Dyfed Alsop chief executive of the WRA said: ‘These statistics relate to our first operating year collecting and managing land transaction tax. As a data-driven organisation we want to learn from these data to improve our services for taxpayers in future. We believe data is central to the approach we’re taking to tax which involves supporting people to pay the right amount of tax at the right time.’

The WRA started collecting and managing land transaction tax in April 2018 when...