Government of Wales Act 2006

[F1 116M Duty to disclose information on Welsh land transactions to HMRC U.K.

(1) [F2 The Welsh Revenue Authority] must provide to HMRC such of the information falling within subsection (2) as HMRC may require.

(2) Information falls within this subsection if it—

(a) is relevant information in relation to a Welsh land transaction, and

(b) is in the possession or under the control of the person.

(3) “ Relevant information ”, in relation to a Welsh land transaction, means information which—

(a) corresponds to any of the particulars which would be required under Schedule 2 to the Finance Act 1931, but for section 28(3)(c) of that Act, or

(b) uniquely identifies, or assists in uniquely identifying, any person who gives consideration for, or is a party to, the transaction.

(4) Information is to be provided under subsection (1) in such form as HMRC may reasonably specify.

(5) Information acquired by HMRC under this section is to be treated, for the purposes of the Commissioners for Revenue and Customs Act 2005, as acquired in connection with a function of theirs.

(6) In this section, “ HMRC ” means Her Majesty's Revenue and Customs. ]

Textual Amendments

F1 Pt. 4A Ch. 3 inserted (17.2.2015) by Wales Act 2014 (c. 29), ss. 15(1), 29(2)(b)(3) (with s. 15(2))

F2 Words in s. 116M(1) substituted (1.4.2018) by Wales Act 2017 (c. 4), s. 71(4), Sch. 6 para. 7 (with Sch. 7 paras. 1, 6); S.I. 2017/1179, reg. 3(q)