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

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

1

Commentary on Sections

Part 2 – the Tax and Key Concepts

Sections 17-18 - Chargeable transaction and chargeable consideration

29.Land transactions are chargeable transactions (i.e. liable to LTT) unless they are exempt from charge (see Schedule 3) or unless they are relieved from charge and that relief is claimed (section 30(2)). Section 18 and Schedule 4 make provision as to the calculation of chargeable consideration. Regulations may amend or repeal the provisions of the Act relating to chargeable consideration.

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Explanatory Notes

Text created by the Welsh Government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes accompany all Acts of the Welsh Parliament.

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