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Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017
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Meaning of property investment partnerships
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33(1)In this Schedule, a “property-investment partnership” is a partnership whose sole or main activity is investing or dealing in chargeable interests (whether or not that activity involves the carrying out of construction operations on the land in question).
(2)In sub-paragraph (1), “construction operations” has the same meaning as in Chapter 3 of Part 3 of the Finance Act 2004 (c. 12)(see section 74 of that Act).
(3)For the purposes of sub-paragraph (1), “chargeable interests” includes any interest which would be a chargeable interest but for the fact that it relates to land outside Wales.
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