The Welsh government is consulting on anti-avoidance measures targeting land transaction tax (LTT) relief and artificial arrangements entered into to avoid tax.
The Welsh Revenue Authority, which is expected to be established next year, will be responsible for the collection and management of the LTT and will undertake most of the collection and management functions for landfill disposals tax. The new taxes will replace the U.K.’s stamp duty land tax and landfill tax from April 2018. The Land Transaction Tax and Anti-Avoidance of Devolved Taxes (Wales) Bill, introduced in the National Assembly for Wales September 12, sets out measures to tackle avoidance of the devolved taxes.
Read more: My news story for Tax Analysts, 20 September (paywall).
Categories: Recent posts