7E+WA transaction is not a higher rates residential property transaction under paragraph 3 if the main subject-matter of the transaction is a major interest in a dwelling—
(a)in which, immediately before the effective date of the transaction, the buyer [F1or the buyer’s spouse or civil partner] had another major interest, and
(b)which, immediately before and after the effective date of the transaction, is the buyer's only or main residence.
Textual Amendments
F1Words in Sch. 5 para. 7(a) inserted (1.4.2018) by The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendment to Schedule 5) Regulations 2018 (S.I. 2018/125), regs. 1(2), 2(a)
Modifications etc. (not altering text)
C1Sch. 5 applied (with modifications) (1.4.2018) by The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 (S.I. 2018/126), regs. 1(2), 12
Commencement Information
I1Sch. 5 para. 7 in force at 1.4.2018 by S.I. 2018/34, art. 3