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The new Land Transaction Tax Return (LTT) system is now available.

Want to stay informed? Simply enter your details below is particularly useful if one or all of the following are relevant to you:

a) Conveyancers with an ‘occasional’ need to complete an LTT form for that 'occasional' instruction to purchase property in Wales.
Of which there are two services available:

b) Conveyancers who need to be; time-effective, cost-efficient, in the process of completing an LTT and want to protect their existing investment in technology:

c) Conveyancers that like to plan ahead and wish to minimise/ manage their risks via:

There is an alternative, provided by Welsh Revenue Authority (WRA) which requires a slow registration process and is slow to input answers to questions. There are 23% more questions than with a comparable SDLT.

Sound interesting……? then here is a little more detail

Point a) explained

1.4million Property Tax transactions, only 55,000 affect Welsh LTT that’s 4%.

By definition of 4%, there are ‘occasional’ users, whom will not be ‘familiar with how to?’ complete an LTT, as a result work slowly through the form completion process.
‘Occasional users’ have an option to register with WRA (takes around 2 weeks) but then will not use the credentials for many months, forgetting what to do and how to do it, understandably.
Firstly, will solve this ‘occasional’ use problem. 85% of LTT questions are the same as SDLT hence approaching LTT from a familiar SDLT approach make life straight forward.

Secondly, are specialists in completing SDLT/LTT forms and offer a premium service that is a disbursement cost of £50+ VAT that means when you are nearly out of time to do the form or register with WRA (or bluntly can't be bothered with the hassle of being registered with WRA), can do the form processing for you. You fill it in, we process it and return to your original data entry the certificate in a matter of an hour. Service agreement is 4hrs turnaround, 9am to 5pm, accepting limitations of WRA cause are outside of service level agreement.

Point b) explained suits those looking for easy pre-population, either from;
a) case management input. Many efficient and highly cost effective Property departments have invested in technology and time to create streamlined NON data repetitive input systems. These ideally suit whose own API connectivity allows for single sign-on, touch a button and pre-existing data marries into a LTT template and the form is complete. Reminds you of any missing unique data entry, i.e. is transaction subject to X boundary issues? And then outputs to a PDF including a covering letter. Both of which are posted to WRA. Since that’s the only WRA option at the moment.
Then, at the touch of the next button the eAP1 for HMLR is auto completed and ready for attachments to be attached, and at least that is eSubmitted into HMLR. Making a very efficient, future-effective, digital process.
b) or from;
standalone input via LTT templates set up for Organisation or Individual, freehold or leasehold. For similar purchase transactions the copy form button saves lots of time and regularly used contact details can be tagged to be stored for re-use on different transactions later on.

Point c) explained

Alerts within application and email reminders will help you manage a busy workload of when should that certificate be back? If its not back by the expected date, easy to send chase up correspondence is to hand.
All the above is recorded in a transaction audit trail, of who did what when, so there is no ambiguous interpretation of the situation
Special designed client-declarations to authorise you on their behalf to further protect you

Some comparison SDLT/LTT statistics:

Some comparison SDLT/LTT differences:

The key current question from WRA is:

Question. Is there a business case for enabling third party specialist software that many Conveyancers use day in and day out for their existing English transactions, access, to the existing API technology or not?

Answer. As a new government agency WRA are inviting Conveyancers to provide evidence/ an argument for or against the business case, to allow ‘specialist/ authorised digital access’, thus saving Conveyancers time, money, effort, error and protecting existing investments. On the basis that HMRC concluded in 2003 that there was a case ‘for’ and have supplied access ever since. WRA conclude differently currently that there is no case ‘for digital integration’.

How do Conveyancers across England and Wales, show there is a case ‘for?’

The answer, whilst ironic in this digital era, is to produce LTT returns in a paper format and post to WRA.

The TRICK to paper is to use that makes it easy to complete and produce the paper output. That’s the clever bit, that achieves efficiency for you and at the same time creates a business case for WRA.

With WRA having to handle this ‘paper’ process, that will demonstrate by definition, the business case ‘for’, clearly and exactly, that there is a need for allowing ‘specialist authorised applications digital access to the LTT system’.

If and once digital access is enabled by WRA, the efficiencies that Property Professionals have benefitted from, since 2003 will be resurrected.

WRA will be a significant beneficiary of enabled digital access and will be wisely using public money through not wasting it on re-typing Conveyancers data, into their own system.

WRA are expecting Conveyancers to be both an army of unpaid tax collectors and to be the unpaid typists collecting the data, so that they don’t have to. Doesn’t seem quite fair, what do you think? Hence use the paper LTT form in one of these 3 ways:

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