Changes over time for: Cross Heading: Higher rates residential property transaction
Status:
Point in time view as at 01/04/2018.
Changes to legislation:
There are currently no known outstanding effects for the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Cross Heading: Higher rates residential property transaction.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Higher rates residential property transactionE+W
11(1)A chargeable transaction is a higher rates residential property transaction if—E+W
(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).
Modifications etc. (not altering text)
Commencement Information
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