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Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017

Sections 67–75 - Interpretation

106.This Part sets out the meaning of key terms referred to throughout the Act. It includes final provisions and provides for subordinate legislation powers and commencement.

107.Sections 72 and 73 provide the meaning of “residential property” and “dwelling”. LTT, like SDLT and Land and Buildings Transaction Tax (LBTT), and contains a definition of residential property. Residential property includes a building or part of a building used or suitable for use as a dwelling. It also includes the garden and grounds of the building or any other land that subsists for the benefit of the building. There are a number of buildings that are expressly included within the definition of residential property (for example residential accommodation for school pupils) and others which are excluded (for example a prison). There is also a rule providing that where 6 or more dwellings are acquired in a single transaction then, for the purposes of that transaction, those properties are to be treated as non-residential property. The Welsh Ministers may, by regulations subject to the affirmative procedure, amend the meaning of residential property (and accordingly non-residential property).

108.Non-residential property is defined in the negative as being property which is not residential property.

109.Section 74 provides how connected persons are to be established (by use of section 1122 of the Corporation Tax Act 2010 subject to certain adjustments). Section 75 provides other definitions, including “land” and “retail prices index”.

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Text created by the Welsh Government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes accompany all Acts of the National Assembly for Wales.

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