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Tag: TAX
TAX
What is land transaction tax?
Land Transaction Tax (LTT) is a tax on property transactions in Wales. It was introduced on April 1, 2018, replacing the Stamp Duty Land Tax (SDLT) in Wales. LTT is administered by the Welsh Revenue Authority (WRA) and is applicable on the purchase or lease of land or property. Key Points of Land Transaction Tax… Read more
UK Tax Residency explained
The rules on tax residency in the UK are primarily determined by the Statutory Residence Test (SRT), which establishes whether an individual is a tax resident in the UK for a given tax year. The SRT consists of three main parts: 1. Automatic Overseas Tests You are automatically considered non-resident for the tax year if… Read more