Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw1)

Valid from 18/10/2017

SCHEDULE 6 E+W LEASES

PART 5 E+W CALCULATION OF TAX CHARGEABLE

Valid from 01/04/2018

Net present value E+W

31 E+W The NPV of the rent payable over the term of a lease is calculated by applying the following formula—

Figure 8 where—

r_i is the rent payable in respect of year i,

i is the first, second, third etc. year of the term of the lease,

n is the term of the lease, and

T is the temporal discount rate (see paragraph 32).