What is the difference between latter and later

Latter is an adjective whereas later is an adverb. Latter means more recent and is often used in combination with the adjective former.

Ex

1. Susan has two sisters, Anne and Judy. The former is a nurse and the latter is a lawyer.

2. The latter part of December is the most festive time of the year.

Later means at a later time.

We'll talk later.

Hello,

"Later" refers to time: something happens later or after something else.
eg: he later felt that he was wrong.

"Later" sometimes used to express goodbye(informal).

"Latter" refers to placement of 2 phrases or words in a sentence.
eg: Between captain and major, the latter is the higher rank.

Hope this helps.

All the best!

EDIT

Actually, later is an adjective in at a later time modifying the noun time but like I said it's mainly used as an adverb.