The Abolition of the Right to Buy and Associated Rights (Wales) Act 2018 (Consequential Amendments and Savings Provisions) Regulations 2019

Amendment to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017

4.  The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017(1)is amended as follows—

(a) in section 30 (reliefs), in subsection (3), in the reference to paragraph 2 of Schedule 15, for “right to buy transaction” substitute “transaction subject to a public sector discount”;

(b) in Schedule 15 (relief for certain transactions relating to social housing)—

(i) in paragraph 1(2)—

(aa) in paragraph (a), for “right to buy transactions” substitute “transactions subject to a public sector discount”;

(bb) omit paragraph (d);

(ii) in paragraph 2 (relief for right to buy transaction)—

(aa) in sub-paragraph (1), in the opening words, for “a right to buy transaction” substitute “a transaction subject to a public sector discount”;

(bb) in sub-paragraph (2)—

(i) in the opening words, for “right to buy transaction”, substitute “transaction subject to a public sector discount”;

(ii) omit paragraph (b) and the “, or” preceding it;

(cc) omit sub-paragraph (4);

(dd) omit sub-paragraph (5);

(ee) in sub-paragraph (6), omit the definitions of “qualifying dwelling-house” and “qualifying person”;

(iii) accordingly—

(aa) the title of Part 2 becomes “Public Sector Discount Relief”, and

(bb) the heading of paragraph 2 becomes “Relief for public sector discount transactions”;

(c) in paragraph 3 (shared ownership lease: election for market value treatment) omit sub-paragraph (1)(a)(ii) and the “, or” preceding it;

(d) in paragraph 5 (shared ownership lease: election for market value treatment of premium where staircasing allowed), omit sub-paragraph (1)(a)(ii) and the “, or” preceding it;

(e) in paragraph 9 (shared ownership leases: interpretation)—

(i) omit sub-paragraph (1)(b) and the “, or” preceding it;

(ii) omit sub-paragraph (4);

(iii) omit sub-paragraph (5);

(f) omit paragraph 18 (Rent to mortgage: chargeable consideration).

(1)

2017 anaw 1