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The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018
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- Wales Statutory Instruments
- 2018 No. 126 (W. 31)
- Regulation 11
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Variation of lease treated as grant of new lease
11.—(1) This regulation applies to a lease granted prior to the commencement date (to which the provisions of Schedule 17A to the FA 2003 apply) where there is a variation of the lease on or after the commencement date to increase the amount of rent, which, if it had been before that date, would have been a variation to which paragraph 13(1) of that Schedule would have applied.
(2) Where this regulation applies, for the purposes of paragraph 25 of Schedule 6 to the LTT Act—
(a)the variation of the lease is treated as the grant of a lease; and
(b)the chargeable consideration (other than in respect of any consideration other than rent) is the additional rent.
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