Source: http://www.legislation.gov.uk/anaw/2017/1/contents/2017-10-18
Timestamp: 2019-10-21 16:34:46
Document Index: 333662154

Matched Legal Cases: ['ART 2', 'arty\n12', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 7', 'ART 8', 'ART 1', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 2', 'ART 3', 'ART 4', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'art 2', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 7', 'ARTS 5', 'ART 8', 'ART 9', 'ART 2', 'ART 3', 'ART 4', 'ART 2', 'ART 3', 'ART 4', 'ART 2', 'ART 3', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 6', 'ART 2', 'ART 3', 'ART 4', 'ART 5', 'ART 2', 'ART 3', 'ART 4', 'art 5', 'ART 5', 'art 3']

Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 is up to date with all changes known to be in force on or before 21 October 2019. There are changes that may be brought into force at a future date.
PART 2 THE TAX AND KEY CONCEPTS
CHAPTER 1 LAND TRANSACTION TAX
2.Land transaction tax
CHAPTER 2 LAND TRANSACTIONS
3.Land transaction
4.Chargeable interest
5.Exempt interest
6.Acquisition and disposal of chargeable interest
7.Buyer and seller
8.Linked transactions
9.Land partly in Wales and partly in England
CHAPTER 3 PARTICULAR TRANSACTIONS
10.Contract and transfer
11.Contract providing for transfer to third party
12.Contract providing for transfer to third party: effect of transfer of rights
13.Pre-completion transactions
14.Meaning of substantial performance
15.Options and rights of pre-emption
16.Exchanges
CHAPTER 4 CHARGEABLE TRANSACTIONS AND CHARGEABLE CONSIDERATION
17.Chargeable transaction
18.Chargeable consideration
19.Contingent consideration
20.Uncertain or unascertained consideration
21.Annuities
22.Deemed market value
23.Exceptions
PART 3 CALCULATION OF TAX AND RELIEFS
24.Regulations specifying tax bands and tax rates
25.Procedure for regulations specifying tax bands and tax rates
26.Tax bands and tax rates applicable when regulations cease to have effect
27.Amount of tax chargeable: transactions which are not linked
28.Amount of tax chargeable: linked transactions
29.Calculation provisions subject to certain provisions about reliefs
30.Reliefs
31.Reliefs: anti-avoidance
PART 4 LEASES
32.Leases
PART 5 APPLICATION OF ACT AND TCMA TO CERTAIN PERSONS AND BODIES
33.Companies
34.Unit trust schemes
35.Open-ended investment companies
36.Co-ownership authorised contractual schemes
37.Joint buyers: general rules
38.Joint buyers: returns and declarations
39.Joint buyers: enquiries and assessments
40.Joint buyers: appeals and reviews
41.Partnerships
42.Trusts
43.Persons acting in a representative capacity
PART 6 RETURNS AND PAYMENTS
CHAPTER 1 RETURNS
44.Duty to make a return
45.Notifiable transactions
46.Exceptions for certain acquisitions of major interests in land
47.Contingency ceases or consideration is ascertained: duty to make return
48.Contingency ceases or consideration ascertained: repayment of tax
49.Further return where relief is withdrawn
50.Single return in respect of linked transactions with same effective date
51.Return as a result of later linked transaction
52.Power to amend period in which returns must be made
53.Declaration
54.Buyer with a disability: declaration by the Official Solicitor
55.Declaration by person authorised to act on behalf of individual
CHAPTER 2 LIABILITY FOR AND PAYMENT OF TAX
56.Liability for tax
57.Payment of tax
CHAPTER 3 DEFERRAL OF TAX
58.Deferral requests in cases of contingent or uncertain consideration
59.Calculation of deferrable amount
60.Deferral requests: notices of WRA decisions
61.Deferral requests: effect of WRA's decision
62.Variation of deferral requests
63.Failure to comply with WRA's agreement to defer
64.Regulations about deferral of tax
CHAPTER 4 REGISTRATION OF LAND TRANSACTIONS
65.Registration of land transactions
PART 7 GENERAL ANTI-AVOIDANCE RULE
66.General anti-avoidance rule
PART 8 INTERPRETATION AND FINAL PROVISIONS
67.Meaning of tax
68.Meaning of major interest in land
69.Meaning of subject-matter and main subject-matter
70.Meaning of market value
71.Meaning of effective date of transaction
72.Meaning of residential property
73.Meaning of dwelling
74.References to connected persons
75.Other definitions
76.Amendments to TCMA
77.Independent review of land transaction tax
78.Power to make consequential etc. provision
79.Regulations
80.Crown application
81.Coming into force
The Schedules to this Act are arranged as follows—
PART 1 INTRODUCTION AND KEY CONCEPTS
1.(1) This Schedule makes provision about the application of this...
2.(1) This Schedule applies where— (a) a person (““the original...
Meaning of ““pre-completion transaction””
3.(1) A transaction is a pre-completion transaction if—
4.(1) In this Schedule, references to part of the subject-matter...
5.The transferee is not regarded as entering into a land...
PART 2 PRE-COMPLETION TRANSACTIONS WHICH ARE ASSIGNMENTS OF RIGHTS
6.A pre-completion transaction is an ““assignment of rights”” if the...
Assignments of rights: application of rules about completion and consideration
7.(1) This paragraph applies if the pre-completion transaction is an...
8.(1) Where paragraph 7(4) to (8) applies (assignment of rights:...
9.(1) This paragraph applies where paragraph 8(1) (transferor treated as...
10.Where the transferee under the assignment of rights referred to...
11.(1) This paragraph applies where— (a) the pre-completion transaction is...
PART 3 PRE-COMPLETION TRANSACTIONS WHICH ARE FREE-STANDING TRANSFERS
12.A pre-completion transaction which is not an assignment of rights...
13.(1) This paragraph applies where the pre-completion transaction is a...
14.(1) This paragraph applies where— (a) the pre-completion transaction is...
PART 4 THE MINIMUM CONSIDERATION RULE
15.(1) This paragraph applies where paragraph 7(3) or 13(2) (pre-completion...
16.(1) The ““first minimum amount”” is to be determined in...
17.(1) The ““second minimum amount”” is the total of the...
PART 5 RELIEFS
18.(1) This paragraph applies where— (a) a person would, in...
19.(1) This paragraph applies if— (a) the pre-completion transaction is...
PART 6 INTERPRETATION AND INDEX
20.In this Schedule— “"contract”” (“"contract”") includes any agreement; “"transfer”” (“"trosglwyddiad”")...
21.The following Table lists expressions defined or otherwise explained in...
TRANSACTIONS EXEMPT FROM CHARGE
1.A land transaction is exempt from charge if there is...
2.A land transaction under which the buyer is any of...
3.A transaction between one party to a marriage and the...
4.A transaction between one party to a civil partnership and...
5.(1) The acquisition of property by a person in or...
6.(1) A transaction following a person's death that varies a...
7.The Welsh Ministers may by regulations amend this Schedule so...
1.The chargeable consideration for a transaction is, except as otherwise...
2.The chargeable consideration for a transaction includes any value added...
3.The amount or value of the chargeable consideration for a...
4.(1) For the purposes of this Act, consideration attributable—
5.(1) This paragraph applies to determine the chargeable consideration where...
6.In the case of a land transaction giving effect to...
7.Except as otherwise provided, the value of any chargeable consideration...
8.(1) Where the chargeable consideration for a land transaction consists...
9.(1) Where a land transaction would be exempt from charge...
10.(1) References in this Act to the amount or value...
11.(1) Where the whole or part of the consideration for...
12.(1) Where the whole or part of the consideration for...
13.Where a land transaction is entered into by reason of...
14.Where the buyer agrees to indemnify the seller in respect...
15.Where— (a) there is a land transaction that is—
16.(1) Where— (a) there is a land transaction under which...
17.Costs borne by the buyer under section 9(4) of the...
18.(1) This paragraph applies in any case where arrangements are...
1.(1) This Schedule makes provision about higher rates residential property...
PART 2 BUYER IS AN INDIVIDUAL: SINGLE DWELLING TRANSACTIONS
2.This Part sets out when a chargeable transaction is a...
3.(1) A chargeable transaction is a higher rates residential property...
4.Where paragraph 9 applies, an intermediate transaction (within the meaning...
5.(1) This paragraph applies in relation to a transaction if,...
6.Where there are two or more buyers who are individuals...
7.A transaction is not a higher rates residential property transaction...
8.(1) A transaction is not a higher rates residential property...
9.(1) This paragraph applies where— (a) the buyer in an...
PART 3 BUYER IS AN INDIVIDUAL: MULTIPLE DWELLING TRANSACTIONS
10.This Part sets out when a chargeable transaction is a...
Higher rates residential property transaction
11.(1) A chargeable transaction is a higher rates residential property...
12.Where there are two or more buyers who are individuals...
Two or more qualifying dwellings
13.(1) This paragraph applies if at least two of the...
14.(1) A purchased dwelling is not a qualifying dwelling if...
15.(1) This paragraph applies if— (a) only one of the...
16.Paragraph 15 does not apply if the main subject-matter of...
17.(1) Paragraph 15 does not apply if the qualifying dwelling...
18.(1) This paragraph applies where— (a) the buyer in an...
PART 4 BUYER IS NOT AN INDIVIDUAL
19.This Part sets out when a chargeable transaction where the...
Transaction involving a dwelling
20.(1) A chargeable transaction is a higher rates residential property...
21.(1) A chargeable transaction is a higher rates residential property...
22.Where there are two or more buyers in a transaction,...
23.(1) This paragraph applies where by reason of paragraph 8(4)...
Further provision in connection with transactions being treated as higher rates residential property transactions
24.(1) This paragraph applies where by reason of the application...
25.(1) Sub-paragraph (2) applies in relation to a chargeable transaction...
26.(1) For the purpose of determining whether paragraph 5 or...
27.(1) Sub-paragraph (3) applies in relation to a land transaction...
28.(1) Sub-paragraph (3) applies where— (a) a person is a...
29.(1) Where— (a) the main subject-matter of a land transaction...
30.(1) This paragraph applies where, by reason of paragraph 27...
31.(1) This paragraph applies in relation to a land transaction...
32.(1) Sub-paragraph (2) applies in relation to a chargeable transaction,...
33.(1) This paragraph applies in relation to a chargeable transaction...
34.(1) This paragraph applies where by virtue of an inheritance—...
35.(1) In the provisions of this Schedule specified in sub-paragraph...
36.(1) This paragraph sets out rules for determining what counts...
37.For the purposes of this Schedule, any term of years...
PART 2 DURATION OF LEASE AND TREATMENT OF OVERLAPPING LEASES
2.In applying any provision of this Act to a lease...
3.(1) This paragraph applies to— (a) a lease granted for...
4.(1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
5.(1) For the purposes of this Act (except section 46...
6.(1) For the purposes of this Act a series of...
7.(1) This paragraph applies where— (a) the tenant under a...
8.(1) This paragraph applies where— (a) the tenant under a...
PART 3 RENT AND OTHER CONSIDERATION
9.(1) For the purposes of this Act, a single sum...
10.(1) This paragraph applies where the amount of rent payable...
11.Where— (a) a lease contains provision under which the rent...
12.(1) Where, in the case of a land transaction relating...
13.(1) If, as a result of determining on the reconsideration...
14.(1) If, as a result of determining on the reconsideration...
15.(1) In the case of the grant, assignment or surrender...
Tenants' obligations etc. that do not count as chargeable consideration
16.(1) In the case of a grant of a lease...
17.(1) Where a lease is granted in consideration of the...
18.In the case of an assignment of a lease the...
19.(1) Where, under arrangements made in connection with the grant...
PART 4 AGREEMENTS FOR LEASE, ASSIGNMENTS AND VARIATIONS
20.(1) Where— (a) an agreement for a lease is entered...
21.(1) This paragraph applies where a person (““P””) assigns P's...
22.(1) This paragraph applies where the grant of a lease...
23.(1) Where a lease is assigned, anything that but for...
24.(1) Where a lease is varied so as to reduce...
25.(1) Where a lease is varied so as to increase...
PART 5 CALCULATION OF TAX CHARGEABLE
26.For the purposes of this Part of this Schedule, a...
27.(1) In the case of an acquisition of a residential...
28.(1) The Welsh Ministers must by regulations specify the tax...
29.In the case of the acquisition of a non-residential lease...
30.Where the acquisition of a non-residential lease or mixed lease...
31.The NPV of the rent payable over the term of...
32.For the purposes of paragraph 31 the ““temporal discount rate””...
33.(1) Where in the case of an acquisition of a...
Tax chargeable in respect of consideration other than rent: no zero rate band for non-residential leases
34.(1) This paragraph applies in the case of an acquisition...
35.(1) This paragraph applies in the case of an acquisition...
36.(1) In paragraphs 34 and 35— (a) “"the relevant rent””...
Power to amend or repeal paragraphs 34 to 36
37.The Welsh Ministers may by regulations amend or repeal paragraphs...
1.This Schedule makes provision about the application of this Act...
2.This Schedule is arranged as follows— (a) Part 2 makes...
3.In this Act, a “"partnership”” means— (a) a partnership within...
Chargeable interests treated as held by partners etc.
4.(1) For the purposes of this Act—
5.The acquisition of an interest in a partnership is not...
6.For the purposes of this Act, a partnership is treated...
7.For the purposes of this Act, a partnership is not...
PART 3 ORDINARY PARTNERSHIP TRANSACTIONS
8.This Part of this Schedule applies to land transactions entered...
9.(1) Anything required or authorised to be done under this...
10.(1) Anything required or authorised to be done under this...
11.(1) Where the responsible partners are liable to pay—
PART 4 TRANSACTIONS INVOLVING TRANSFERS TO A PARTNERSHIP
12.In this Part of this Schedule— (a) paragraphs 13 to...
13.(1) This paragraph applies where— (a) a partner transfers a...
14.The sum of the lower proportions in relation to a...
15.(1) For the purposes of paragraph 14 (see Step 1),...
16.(1) For the purposes of paragraph 14 (see Step 2),...
Proportion of chargeable interest attributable to corresponding partner
17.For the purposes of paragraph 14 (Step 4), the proportion...
18.(1) This paragraph applies where— (a) there is a transfer...
19.(1) This paragraph applies where— (a) there is a transfer...
PART 5 TRANSACTIONS INVOLVING TRANSFERS FROM A PARTNERSHIP
20.This Part of this Schedule makes provision about the treatment...
21.(1) This paragraph applies where a chargeable interest is transferred—...
Transfer of chargeable interest from a partnership: sum of the lower proportions
22.The sum of the lower proportions in relation to a...
23.(1) For the purposes of paragraph 22 (see Step 1),...
24.(1) For the purposes of paragraph 22 (see Step 2),...
25.For the purposes of paragraph 22 (see Step 4), the...
26.(1) This paragraph applies for the purposes of paragraph 22...
27.(1) This paragraph applies for the purposes of paragraph 22...
PART 6 OTHER PARTNERSHIP TRANSACTIONS
28.This Part of this Schedule makes provision about—
29.(1) This paragraph applies where— (a) there is a transfer...
30.(1) This paragraph applies where— (a) there is a transaction...
PART 7 APPLICATION OF PARTS 5 AND 6 IN RELATION TO LEASES
Transfer of chargeable interest to or from a partnership: chargeable consideration including rent
31.(1) This paragraph applies in relation to a transaction to...
PART 8 TRANSFERS INVOLVING PROPERTY-INVESTMENT PARTNERSHIPS
32.This Part of this Schedule makes provision—
33.(1) In this Schedule, a ““property-investment partnership”” is a partnership...
34.(1) This paragraph applies where— (a) there is a transfer...
35.(1) A lease held as partnership property immediately after a...
36.(1) Paragraph 13 does not apply to a transfer of...
37.(1) Where section 16 (exchanges) applies to the acquisition of...
PART 9 APPLICATION OF EXEMPTIONS, RELIEFS, PROVISIONS OF TCMA AND NOTIFICATION PROVISIONS
38.In this Part of this Schedule— (a) paragraph 39 makes...
39.(1) Paragraph 1 of Schedule 3 (exemption of transactions for...
40.(1) Schedule 16 (group relief) applies to—
Sum of the lower portions: connected company
41.(1) This paragraph applies where in calculating the sum of...
42.(1) Schedule 18 (charities relief) applies to the transfer of...
Modifications of TCMA in relation to partnerships
43.(1) TCMA applies in relation to land transaction tax in...
44.(1) A transaction which is a chargeable transaction by virtue...
45.(1) Any reference in this Schedule to partnership property is...
Transfer of a chargeable interest
46.References in this Schedule to a transfer of a chargeable...
47.For the purposes of this Schedule, there is a transfer...
48.For the purposes of this Schedule, where a person acquires...
49.For the purposes of this Schedule, there is a transfer...
50.(1) This paragraph applies in relation to a lease for...
51.(1) Section 1122 of the Corporation Tax Act 2010 (c....
52.In this Schedule, “"arrangements”” has the meaning given by section...
2.(1) In this Schedule, a “"bare trust”” means a trust...
3.(1) Where a person (““T””) acquires a chargeable interest or...
4.Where persons acquire a chargeable interest or an interest in...
5.(1) Sub-paragraph (2) applies where a chargeable interest is acquired...
Reallocation of trust property as between beneficiaries
6.Where— (a) the trustees of a settlement reallocate trust property...
Responsibility of trustees of settlement
7.(1) Where the trustees of a settlement are liable to...
Relevant trustees for purposes of return etc.
8.(1) A return in relation to a land transaction may...
Relevant trustees: enquiries and assessments
9.(1) If WRA issues a notice of enquiry under section...
Relevant trustees: appeals and reviews
10.(1) The agreement of all the relevant trustees is required...
Interests of beneficiaries under certain trusts
11.(1) Sub-paragraphs (2) and (3) apply where property is held...
1.The leaseback element of a sale and leaseback arrangement is...
2.A sale and leaseback arrangement is an arrangement under which—...
3.(1) The qualifying conditions are— (a) that the sale transaction...
ALTERNATIVE PROPERTY FINANCE RELIEFS
1.(1) This Schedule makes provision for relief in the case...
PART 2 THE RELIEFS
2.(1) This paragraph applies where arrangements are entered into between...
3.(1) This paragraph applies where arrangements are entered into between...
4.References in paragraphs 2 and 3 to P are to...
PART 3 CIRCUMSTANCES WHERE ARRANGEMENTS NOT RELIEVED
5.Paragraphs 2 and 3 do not apply to arrangements in...
Land sold to financial institution and leased to a person: arrangements to transfer control of institution
6.(1) Paragraph 2 does not apply to alternative finance arrangements...
PART 4 EXEMPT INTEREST
7.(1) An interest held by a financial institution as a...
Meaning of ““financial institution””
8.In this Schedule, “"financial institution”” means— (a) a financial institution...
Meaning of ““arrangements””
9.In this Schedule, “"arrangements”” includes any agreement, understanding, scheme, transaction...
2.In this Schedule— “"alternative finance investment bond”” (“"bond buddsoddi cyllid...
PART 2 ISSUE, TRANSFER AND REDEMPTION OF RIGHTS UNDER BOND NOT TO BE TREATED AS CHARGEABLE TRANSACTION
Bond-holder not to be treated as having an interest in the bond assets
3.For the purposes of this Act— (a) the bond-holder under...
4.(1) Paragraph 3 does not apply if control of the...
PART 3 CONDITIONS FOR OPERATION OF RELIEFS ETC.
5.This Part of this Schedule defines conditions 1 to 7...
6.Condition 1 is that one person (““A””) and another (““B””)...
7.Condition 2 is that— (a) B, as bond-issuer, enters into...
8.(1) Condition 3 is that, for the purpose of generating...
9.(1) Condition 4 is that, before the end of the...
10.Condition 5 is that the total of the payments of...
11.Condition 6 is that B holds the interest in the...
12.Condition 7 is that— (a) before the end of the...
PART 4 RELIEF FOR CERTAIN TRANSACTIONS
Relief for the first transaction
13.(1) The first transaction is relieved from tax if each...
14.(1) Relief under paragraph 13 is withdrawn if—
15.(1) The second transaction is relieved from tax if—
16.If, after the effective date of the second transaction, B...
17.(1) Relief provided under paragraph 13 or 15 (including where...
18.(1) Paragraphs 13 to 16 apply with the modifications set...
19.(1) Where a charge is discharged in accordance with paragraph...
RELIEF FOR INCORPORATION OF LIMITED LIABILITY PARTNERSHIP
1.A transaction by which a chargeable interest is transferred by...
2.Condition A is that the effective date of the transaction...
3.Condition B is that at the relevant time the transferor—...
4.Condition C is that— (a) the proportions of the chargeable...
5.(1) In this Schedule— “"limited liability partnership”” (“"partneriaeth atebolrwydd cyfyngedig”")...
RELIEF FOR ACQUISITIONS INVOLVING MULTIPLE DWELLINGS
1.This Schedule makes provision about relief available for acquisitions involving...
2.This Schedule is arranged as follows— (a) paragraph 3 identifies...
3.(1) This Schedule applies to a relevant transaction.
4.(1) ““The consideration attributable to dwellings”” is—
5.(1) If relief under this Schedule is claimed for a...
Determining the tax related to the consideration attributable to dwellings
6.(1) For the purposes of paragraph 5(1)(a), ““the tax related...
7.(1) For the purposes of paragraph 5(1)(b), ““the tax related...
Certain buildings not yet constructed or adapted to count as a dwelling
8.(1) For the purposes of this Schedule, the main subject-matter...
RELIEF FOR CERTAIN ACQUISITIONS OF DWELLINGS
1.(1) This Schedule makes provision about reliefs available for certain...
PART 2 RELIEF FOR CERTAIN ACQUISITIONS OF DWELLINGS
2.(1) Where a housebuilder acquires a dwelling (“"the old dwelling””)...
3.(1) Where a property trader acquires a dwelling (“"the old...
4.(1) Where a property trader acquires a dwelling (“"the old...
5.(1) Where a property trader acquires a dwelling from the...
6.(1) Where a property trader acquires a dwelling from an...
7.(1) Where an individual's employer acquires a dwelling from the...
Withdrawal of reliefs available to property traders
8.(1) Relief under paragraphs 3 (acquisition by property trader from...
9.(1) For the purposes of this Part of this Schedule—...
PART 3 RELIEF FOR PERSONS EXERCISING COLLECTIVE RIGHTS
10.(1) This paragraph applies where a chargeable transaction is entered...
RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING
PART 2 RIGHT TO BUY RELIEF
2.(1) In the case of a right to buy transaction—...
PART 3 SHARED OWNERSHIP LEASES
Shared ownership lease: election for market value treatment
3.(1) This paragraph applies where— (a) a lease is granted—...
4.The transfer of the reversion to the tenant under the...
Shared ownership lease: election for market value treatment of premium where staircasing allowed
5.(1) This paragraph applies where— (a) a lease is granted—...
6.(1) This paragraph applies where under a shared ownership lease—...
7.For the purpose of determining the amount of tax chargeable...
8.(1) The chargeable consideration for transactions forming part of a...
9.(1) For the purposes of paragraphs 6, 7 and 8,...
PART 4 SHARED OWNERSHIP TRUSTS
10.(1) This paragraph applies to paragraphs 11 to 17.
11.For the purposes of this Act, the person or persons...
12.(1) This paragraph applies where— (a) a shared ownership trust...
13.The transfer to the buyer of an interest in the...
14.(1) An equity-acquisition payment under a shared ownership trust, and...
15.Where no election has been made under paragraph 12 in...
16.For the purposes of determining the amount of tax chargeable...
17.(1) The chargeable consideration for transactions forming part of a...
PART 5 RENT TO MORTGAGE
18.(1) The chargeable consideration for a rent to mortgage transaction...
PART 6 RELIEF FOR CERTAIN ACQUISITIONS BY REGISTERED SOCIAL LANDLORDS
Relief for certain acquisitions by registered social landlords
19.(1) A land transaction under which the buyer is a...
1.(1) This Schedule makes provision about the relief available for...
PART 2 THE RELIEF
2.(1) A land transaction is relieved from tax if the...
3.(1) The following provisions apply for the purposes of group...
PART 3 RESTRICTIONS ON AVAILABILITY OF RELIEF
4.(1) Group relief is not available if, at the effective...
5.(1) Arrangements entered into by a joint venture company which,...
6.(1) Arrangements entered into by a company which, apart from...
PART 4 WITHDRAWAL OF RELIEF
Interpretation: relieved transaction
7.In this Part of this Schedule, a transaction that is...
8.(1) Where sub-paragraph (2) applies, group relief in relation to...
Cases in which group relief not withdrawn
9.(1) Group relief is not withdrawn under paragraph 8 in...
10.(1) Group relief is not withdrawn under paragraph 8 where...
11.(1) Group relief is not withdrawn under paragraph 8 where—...
12.(1) Where in the case of a relieved transaction—
PART 5 RECOVERY OF RELIEF FROM CERTAIN PERSONS
Recovery of group relief from another group company or controlling director
13.(1) This paragraph applies where— (a) tax is chargeable under...
14.(1) WRA may issue a notice to a person within...
1.(1) This Schedule makes provision about reconstruction relief and acquisition...
PART 2 RECONSTRUCTION RELIEF
2.(1) Where— (a) a company (“"the acquiring company””) acquires the...
PART 3 ACQUISITION RELIEF
3.(1) Where— (a) a company (“"the acquiring company””) acquires the...
PART 4 WITHDRAWAL OF RECONSTRUCTION OR ACQUISITION RELIEF
4.In this Part and in Part 5 of this Schedule,...
5.(1) Where sub-paragraph (2) applies, reconstruction or acquisition relief in...
6.(1) Reconstruction or acquisition relief is not withdrawn under paragraph...
7.(1) Reconstruction or acquisition relief in relation to a relieved...
PART 5 RECOVERY OF RECONSTRUCTION OR ACQUISITION RELIEF
8.(1) This paragraph applies where— (a) tax is chargeable under...
9.(1) WRA may issue a notice to a person within...
1.This Schedule is arranged as follows— (a) paragraph 2 defines...
2.(1) In this Schedule, a charity (““C””) which is a...
3.(1) A land transaction is relieved from tax where the...
4.(1) This paragraph applies where— (a) a land transaction is...
5.(1) This paragraph applies where— (a) a land transaction is...
6.(1) This paragraph applies where— (a) there are two or...
7.(1) This paragraph applies where— (a) a land transaction is...
8.(1) This paragraph applies where— (a) a charity (““C””) is...
9.(1) This Schedule applies to the following trusts as it...
OPEN-ENDED INVESTMENT COMPANY RELIEFS
1.(1) A land transaction transferring any property which is subject...
2.(1) A land transaction transferring any property which is subject...
3.(1) For the purposes of this Schedule, “"the whole of...
RELIEF FOR ACQUISITIONS BY PUBLIC BODIES AND HEALTH BODIES
1.(1) A land transaction entered into on, or in consequence...
2.A land transaction is relieved from tax if the buyer...
COMPULSORY PURCHASE RELIEF AND PLANNING OBLIGATIONS RELIEF
1.(1) A compulsory purchase facilitating development is relieved from tax....
2.(1) A land transaction that is entered into in order...
1.A land transaction entered into by or under the direction...
2.(1) A land transaction entered into by or under the...
3.A land transaction entered into with a view to—
4.(1) Paragraph 3 has effect in relation to a designated...
5.In paragraphs 3 and 4, “"visiting force”” means any body,...
6.A land transaction— (a) which is entered into under section...
7.(1) A land transaction to which the Welsh Ministers are...
Relief for acquisitions by bodies established for national purposes
8.A land transaction is relieved from tax if the buyer...
Relief for acquisitions in consequence of reorganisation of parliamentary constituencies
9.(1) A land transaction is relieved from tax where an...
10.(1) A land transaction is relieved from tax if it...
11.(1) A land transaction is relieved from tax if it...
12.(1) A land transaction is relieved from tax if it...
2.In section 1 (overview of Act), after paragraph (b) insert—...
3.In the Welsh text, in section 37 (overview of Part),...
4.In Chapter 2 of Part 3, in the chapter heading...
5.In section 38 (duty to keep and preserve records)—
6.After section 38 insert— Duty to keep and preserve records:...
7.In section 39 (preservation of information etc.), after ““38”” insert...
8.After section 39 insert— Power to make regulations about records...
9.In section 40 (meaning of filing date), for ““this Act””...
10.In section 41 (amendment of tax return by taxpayer), for...
11.In section 42 (correction of tax return by WRA)—
12.In section 43 (notice of enquiry)— (a) in subsection (1),...
13.In section 45 (amendment of tax return during enquiry to...
14.After section 45 insert— Amendment of tax return by taxpayer...
15.In section 50 (completion of enquiry), in subsection (4), for...
16.In section 52 (determination of tax chargeable if no tax...
17.In the Welsh text, in section 54 (assessment where loss...
18.In section 58 (conditions for making WRA assessments)—
19.In section 59 (time limits for WRA assessments), in subsection...
20.In section 61 (assessment procedure), omit subsection (3).
21.In the Welsh text, in the heading to Chapter 7...
22.In the Welsh text, in section 62 (claims for relief...
23.In section 63 (claims for relief for overpaid tax etc.)—...
24.After section 63 insert— Claim for relief in respect of...
25.(1) In section 64 (disallowing claims for relief due to...
26.In the Welsh text, in section 65 (unjustified enrichment: further...
27.In section 66 (unjustified enrichment: reimbursement arrangements)—
28.In section 67 (cases in which WRA need not give...
29.In section 68 (making claims)— (a) in subsection (1), for...
30.In section 69 (duty to keep and preserve records), in...
31.In section 71 (amendment of claim by claimant), in subsection...
32.In the Welsh text, in section 73 (giving effect to...
33.In the Welsh text, in section 77 (giving effect to...
34.In section 81 (contract settlements)— (a) after subsection (1) insert—...
35.In section 90 (requiring information and documents in relation to...
36.In section 95 (complying with an information notice), in subsection...
37.In the Welsh text, in section 100 (taxpayer notices following...
38.In section 116(1) (no review or appeal of tribunal approvals),...
39.In section 118 (penalty for failure to make tax return...
40.In section 119 (penalty for failure to make tax return...
41.In section 120 (penalty for failure to make tax return...
42.For section 122 substitute— Penalty for failure to pay tax...
43.Omit sections 123 and 124.
44.In section 125 (special reduction in penalty), after subsection (2)...
45.In section 126 (reasonable excuse for failure to make tax...
46.In section 127 (assessment of penalties)— (a) in subsection (5),...
47.In section 128 (time limit for assessment of penalties under...
48.In section 130 (amount of penalty for inaccuracy in document...
49.In section 132 (penalty for deliberate inaccuracy in document given...
50.In section 133 (penalty for failure to notify under-assessment or...
51.In section 141 (assessment of penalties under Chapter 3), in...
52.In the Welsh text, in section 142 (interpretation of Chapter...
53.In section 143 (penalty for failure to keep and preserve...
54.In section 144 (reasonable excuse for failure to keep and...
55.In section 145 (assessment of penalties under section 143), in...
56.After section 154 (payment of penalties) insert— Liability of personal...
57.Omit the italic cross-heading immediately preceding section 157.
58.For sections 157 and 158 substitute— Late payment interest on...
59.Omit section 159 (late payment interest start date: amendments to...
60.In section 169 (proceedings in magistrates' court), after subsection (5)...
61.In section 170(1) (enforcement by taking control of goods), for...
62.In section 172(2) (list of appealable decisions), after paragraph (e)...
63.After section 181 insert— CHAPTER 3A PAYMENT AND RECOVERY OF...
64.In section 182 (payment of penalties in the event of...
65.After section 183 insert— Suspension of repayment pending further appeal...
66.Before section 188 (power to make consequential provision etc.) insert—...
67.In section 189 (regulations), in subsection (2), after ““18(2)”” insert...
68.In section 190 (issue of notices by WRA)—
69.In section 191 (giving notices and other documents to WRA)—...
70.In section 192(2) (interpretation), in the appropriate places, insert— “"buyer””...
71.In section 193 (index of defined expressions), in Table 1,...