March 9, 2015
Comments are invited by 6 May 2015 on, among other things, the following:
Practitioners and clients alike will welcome the proposals’ reference to the need for LTT to be supported by clear guidance, for example, in the context of the complex rules on partnerships, trusts and companies and also in the context of compliance, where some grey areas continue to permeate the current regime. The Welsh Government states that, regardless of whether the LTT rules on partnerships, trusts and companies differ from the SDLT rules, developing and publishing clear and comprehensive guidance will be a high priority.
The decisions as to rates and bands will be taken much closer to 2018 to take account of the prevailing fiscal circumstances and indeed the operation of UK SDLT at that time. With the Office of Budgetary Responsibility’s estimate that SDLT could be worth in the region of £231million to the Welsh economy by the devolution of the tax in 2018, drafting this legislation presents a huge challenge for the Welsh Government. In the meantime, all eyes look north as Scotland’s Land and Buildings Transaction Tax takes shape for its implementation in April 2015.
We shall update you in due course on the outcome of the consultation and any lessons emerging from the Scottish experience.
I have worked with Darwin Gray for a number of years and the level of service, professionalism and timely response is second to none. I would highly recommend Darwin Gray to any business.”
Darwin Gray have provided us with a first-class service for many years now. They really take the time to understand our business and develop relationships which results in advice and support that is contextualised and effective.”
We have worked with Darwin Gray for several years and have always found their services and advice to be first class.”
An extremely professional and sincere company who make time for your queries and understand the need to break down certain facts and information to ensure everything is understood perfectly. I would highly recommend the company to anyone looking for any type of legal advice”
PSS has worked with Darwin Gray for many years. We have always received an excellent service. Prompt and professional advice and support.”
We have used several departments within DG recently and we have been very pleased with an effective, efficient and down to earth service. Very happy thus far and I expect that we will continue to use DG.”
Darwin Gray offer us truly superb services. Very professional, quick and services available bilingually which is very important to us, highly recommend.”
My “go to” in urgent and time sensitive cases for direction, support and advice. The team are quick to respond to calls or emails for advice and support on all matters. Always explain complex matters in a way a lay person can easily understand.”