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Land Transaction Tax
Land Transaction Tax (LTT) () is a property tax in Wales. It replaced the Stamp Duty Land Tax from 1 April 2018. It became the first Welsh tax in almost 800 years. LTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired. Under the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, a land transaction must be notified to the Welsh Revenue Authority unless it falls within one of the exempt categories contained in the Act. The Welsh Revenue Authority administers and collects LTT with support from HM Land Registry. Overview LTT is usually paid by the solicitor on behalf of the buyer, within 30 days of completion as part of the administrative process to complete the conveyancing transaction, although final responsibility lies with the buyer. Submitting an LTT return and making arrangements to pay the LTT due is a prerequisite for app ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth tax, net wealth, taxes on the change of ownership of property through Inheritance tax, inheritance or Gift tax, gift and Financial transaction tax, taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other Region, geographical region, or a Local government, municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senedd
The Senedd ( ; ), officially known as the Welsh Parliament in English and () in Welsh, is the devolved, unicameral legislature of Wales. A democratically elected body, Its role is to scrutinise the Welsh Government and legislate on devolved matters that are not reserved to the Parliament of the United Kingdom. It is a bilingual institution, with both Welsh and English being the official languages of its business. From its creation in May 1999 until May 2020, the Senedd was officially known as the National Assembly for Wales () and was often simply called the Welsh Assembly. The Senedd comprises 60 members who are known as members of the Senedd (), abbreviated as "MS" (). Since 2011, members are elected for a five-year term of office under an Additional-member system, in which 40 MSs represent smaller geographical divisions known as "constituencies" and are elected by first-past-the-post voting, and 20 MSs represent five "electoral regions" using the D'Hondt method of p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2018 Establishments In Wales
Eighteen or 18 may refer to: * 18 (number) * One of the years 18 BC, AD 18, 1918, 2018 Film, television and entertainment * ''18'' (film), a 1993 Taiwanese experimental film based on the short story ''God's Dice'' * ''Eighteen'' (film), a 2005 Canadian dramatic feature film * 18 (British Board of Film Classification), a film rating in the United Kingdom, also used in Ireland by the Irish Film Classification Office * 18 (''Dragon Ball''), a character in the ''Dragon Ball'' franchise * "Eighteen", a 2006 episode of the animated television series ''12 oz. Mouse'' Science * Argon, a noble gas in the periodic table * 18 Melpomene, an asteroid in the asteroid belt Music Albums * ''18'' (Moby album), 2002 * ''18'' (Nana Kitade album), 2005 * '' 18...'', 2009 debut album by G.E.M. * ''18'' (Jeff Beck and Johnny Depp album), 2022 Songs * "18" (5 Seconds of Summer song), from their 2014 eponymous debut album * "18" (One Direction song), from their 2014 studio album ''Four'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2018 Introductions
Eighteen or 18 may refer to: * 18 (number) * One of the years 18 BC, AD 18, 1918, 2018 Film, television and entertainment * ''18'' (film), a 1993 Taiwanese experimental film based on the short story ''God's Dice'' * ''Eighteen'' (film), a 2005 Canadian dramatic feature film * 18 (British Board of Film Classification), a film rating in the United Kingdom, also used in Ireland by the Irish Film Classification Office * 18 (''Dragon Ball''), a character in the ''Dragon Ball'' franchise * "Eighteen", a 2006 episode of the animated television series ''12 oz. Mouse'' Science * Argon, a noble gas in the periodic table * 18 Melpomene, an asteroid in the asteroid belt Music Albums * ''18'' (Moby album), 2002 * ''18'' (Nana Kitade album), 2005 * '' 18...'', 2009 debut album by G.E.M. * ''18'' (Jeff Beck and Johnny Depp album), 2022 Songs * "18" (5 Seconds of Summer song), from their 2014 eponymous debut album * "18" (One Direction song), from their 2014 studio album ''Four'' * ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Taxes
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other geographical region, or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In Wales
House prices increased in Wales during the Housing market crisis in the United Kingdom (2008). There has been political debate that this has contributed to a decline in the number of speakers of the Welsh language. Building Redrow plc is one of the largest Welsh housebuilders with a network of 14 operational divisions across the UK. JCB has a factory and shop in Wrexham which recently recruited 20 new workers. Property market Much of the rural Welsh property market was driven by buyers looking for second homes for use as holiday homes, or for retirement. Many buyers were drawn to Wales from England because of relatively inexpensive house prices in Wales as compared to house prices in England. The rise in home prices outpaced the average earnings income in Wales and meant that many local people could not afford to purchase their first home. In 2001 nearly a third of all properties in Gwynedd were bought by buyers from out of the county, and with some communities reporti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Wales
A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income. Count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Profit (real Property)
A profit (short for ''profit-à-prendre'' in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. Indeed, because of the necessity of allowing access to the land so that resources may be gathered, every profit contains an implied easement for the owner of the profit to enter the other party's land for the purpose of collecting the resources permitted by the profit. Creation Like an easement, profits can be created ''expressly'' by an agreement between the property owner and the owner of the profit, or by ''prescription'', where the owner of the profit has made "open and notorious" use of the land for a continuous and uninterrupted statutory period. Types A profit can be ''appurtenant'' (owned by an adjacent landowner, and tied to the u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seignory
In English law, seignory or seigniory, spelled ''signiory'' in Early Modern English (; ; ), is the lordship (authority) remaining to a grantor after the grant of an estate in fee simple. '' Nulle terre sans seigneur'' ("No land without a lord") was a feudal legal maxim; where no other lord can be discovered, the Crown is lord as lord paramount. The principal incidents of a seignory were a feudal oath of homage and fealty; a "quit" or "chief" rent; a "relief" of one year's quit rent, and the right of escheat. In return for these privileges, the lord was liable to forfeit his rights if he neglected to protect and defend the tenant or did anything injurious to the feudal relation. Every seignory now existing must have been created before the statute ''Quia Emptores'' (1290), which forbade the future creation of estates in fee-simple by subinfeudation. The only seignories of any importance at present are the lordships of manors. They are regarded as incorporeal hereditaments, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Of The Manor
Lord of the manor is a title that, in Anglo-Saxon England and Norman England, referred to the landholder of a historical rural estate. The titles date to the English Feudalism, feudal (specifically English feudal barony, baronial) system. The lord enjoyed Manorialism, manorial rights (the rights to establish and occupy a residence, known as the manor house and demesne) as well as seignory, the right to grant or draw benefit from the estate (for example, as a landlord). The title is not a peerage or title of upper nobility (although the holder could also be a peer) but was a relationship to land and how it could be used and those living on the land (tenants) may be deployed, and the broad estate and its inhabitants administered. The title continues in modern England and Wales as a legally recognised form of property that can be held independently of its historical rights. It may belong entirely to one person or be a moiety title, moiety shared with other people. The title is know ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Periodic Tenancy
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tenancy At Will
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and after that held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) periodically such as weekly or monthly. Terminology and types of leasehold vary from country to country. Sometimes, but not always, a residential tenancy under a lease agreement is colloquially known as renting. The leaseholder can re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
