116MDuty to disclose information on Welsh land transactions to HMRC

1

A person who is a member of the Welsh Government 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.