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

Shared ownership trust: declaration not linked with staircasing etc.

360.Paragraph 16 provides that where a declaration of trust giving the buyer a beneficial share in the property is made, the declaration is not to be treated as if it were linked to either:

  • an equity-acquisition payment under the trust or any corresponding increase in the buyer’s beneficial interest in the trust property; or

  • a transfer to the buyer of an interest in the trust property on the termination of the trust.

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