PART 2THE TAX AND KEY CONCEPTS
CHAPTER 1LAND TRANSACTION TAX
I12Land transaction tax
1
A tax (to be known as “"land transaction tax””) is to be charged on land transactions.
2
The tax is chargeable—
a
whether or not there is an instrument effecting the transaction,
b
if there is such an instrument, regardless of where it is executed, and
c
regardless of where any party to the transaction is or is resident.
3
The Welsh Revenue Authority (““WRA””) is to be responsible for the collection and management of the tax.