F1PART 4ATaxation
F2CHAPTER 3Tax on transactions involving interests in land
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))
116M Duty to disclose information on Welsh land transactions to HMRC
1
F3The 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.
Pt. 4A inserted (17.2.2015) by Wales Act 2014 (c. 29), ss. 6(2), 29(2)(b)(3)