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

PART 1 E+W INTRODUCTORY

Overview E+W

1 (1) This Schedule makes provision about the application of this Act in relation to leases. E+W

(2) The Schedule is arranged as follows—

(a) Part 2 makes provision about determining the duration of a lease for the purposes of this Act and associated provision about leases with overlapping terms;

(b) Part 3 makes provision about the treatment of consideration in relation to leases, including rent and consideration other than rent and makes provision about not treating certain consideration as chargeable consideration;

(c) Part 4 makes provision about agreements for lease and the treatment of certain assignments and variations of leases for the purposes of this Act;

(d) Part 5 makes provision for no tax to be chargeable on the rent element of residential leases, sets out how the charge to tax is to be calculated on the rent element of other leases and makes provision about the calculation of the tax charge in relation to consideration other than rent.

Commencement Information

I1 Sch. 6 para. 1 in force at 1.4.2018 by S.I. 2018/34, art. 3