C1SCHEDULE 5HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS
C1PART 3BUYER IS AN INDIVIDUAL: MULTIPLE DWELLING TRANSACTIONS
Higher rates residential property transaction
I1C111
1
A chargeable transaction is a higher rates residential property transaction if—
a
it falls within sub-paragraph (2), and
b
paragraph 13 or 15 applies.
2
A transaction falls within this sub-paragraph if—
a
the buyer is an individual, and
b
the main subject-matter of the transaction consists of a major interest in two or more dwellings (““the purchased dwellings””).
3
In this Part of this Schedule, “"purchased dwellings”” has the meaning given by sub-paragraph (2)(b).
4
Where paragraph 18 applies, an intermediate transaction (within the meaning given by that paragraph) is to be treated as a higher rates residential property transaction.
5
A transaction within section 72(9) is not a higher rates residential property transaction save where Schedule 13 applies (see in particular paragraph 6(6) of that Schedule).
Sch. 5 applied (with modifications) (1.4.2018) by The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 (S.I. 2018/126), regs. 1(2), 12