PART 2Finance
Welsh tax on land transactions
17Information on Welsh land transactions
1
In Part 4A of GOWA 2006 (as inserted by section 6), in Chapter 3 (inserted by section 15), after section 116L insert—
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.
2
This section has effect in relation to land transactions in relation to which section 16 has effect.