Point in time view as at 01/04/2018.
There are currently no known outstanding effects for the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Paragraph 3.
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3(1)This Schedule applies to a relevant transaction.E+W
(2)A ““relevant transaction”” is a chargeable transaction that is—
(a)within sub-paragraph (3) or (4), and
(b)not excluded by sub-paragraph (5).
(3)A transaction is within this sub-paragraph if its main subject-matter consists of—
(a)an interest in at least two dwellings, or
(b)an interest in at least two dwellings and other property.
(4)A transaction is within this sub-paragraph if—
(a)its main subject-matter consists of—
(i)an interest in a dwelling, or
(ii)an interest in a dwelling and other property,
(b)it is one of a number of linked transactions, and
(c)the main subject-matter of at least one of the other linked transactions consists of —
(i)an interest in some other dwelling or dwellings, or
(ii)an interest in some other dwelling or dwellings and other property.
(5)A transaction is excluded by this sub-paragraph if—
(a)paragraph 10 (relief for transactions entered into by persons exercising collective rights) of Schedule 14 applies to it, or
(b)relief under Schedule 16 (group relief), Schedule 17 (reconstruction and acquisition relief) or Schedule 18 (charities relief) is available for it (even if such a relief is withdrawn).
(6)A reference in this Schedule to an interest in a dwelling is to any chargeable interest in or over a dwelling.
(7)But, in the case of a dwelling subject to a lease granted for an initial term of more than 21 years, any interest that is a superior interest in relation to the lease is not to be treated as an interest in a dwelling for the purposes of paragraphs 4 and 5.
(8)Sub-paragraph (7) does not apply where—
(a)the seller is a qualifying body within the meaning given by paragraph 9(3) of Schedule 15 (relief for certain acquisitions of residential properties by tenants),
(b)the transaction is a sale under a sale and leaseback arrangement within the meaning of paragraph 2 of Schedule 9 (sale and leaseback arrangements),
(c)that sale is the grant of a leasehold interest, and
(d)the leaseback element of that arrangement is relieved from tax under Schedule 9 (sale and leaseback relief).
Commencement Information
I1Sch. 13 para. 3 in force at 1.4.2018 by S.I. 2018/34, art. 3
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