http://www.legislation.gov.uk/anaw/2017/1/schedule/6/paragraph/15
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017
An Act of the National Assembly for Wales to make provision about the taxation of land transactions; to amend the Tax Collection and Management (Wales) Act 2016 (anaw 6) to make provision about counteracting avoidance of devolved taxes; to make other amendments to that Act; and for connected purposes.
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Statute Law Database
2024-04-02
Expert Participation
2022-09-09
SCHEDULE 6LEASES
PART 3RENT AND OTHER CONSIDERATION
Reverse premiums
I115
1
In the case of the grant, assignment or surrender of a lease a reverse premium does not count as chargeable consideration.
2
A “"reverse premium”” means—
a
in relation to the grant of a lease, a premium moving from the landlord to the tenant;
b
in relation to the assignment of a lease, a premium moving from the assignor to the assignee;
c
in relation to the surrender of a lease, a premium moving from the tenant to the landlord.