Why do we have to pay LTT?
It’s mainly for legal ownership reasons. When you buy a property, the change in land ownership has to be legally registered at the Land Registry, which is then evidence that your new Dandara home is officially all yours.
The Welsh Revenue Authority (WRA) is responsible for collecting Welsh Land Transaction Tax and will issue a certificate on receipt of the LTT payment due on the purchase of the property.
Who pays LTT and when? This is where your solicitor comes in. They will manage the transfer of funds to pay the tax (usually adding the amount to the sum you pay them before completing on your purchase.)