- Y Diweddaraf sydd Ar Gael (Diwygiedig) - Saesneg
- Y Diweddaraf sydd Ar Gael (Diwygiedig) - Cymraeg
- Gwreiddiol (Fel y'i Deddfwyd) - Saesneg
- Gwreiddiol (Fel y'i Deddfwyd) - Cymraeg
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
(1)The Welsh Ministers must by regulations specify the tax bands and percentage tax rates for each band applicable in the case of the following types of chargeable transactions—
(a)residential property transactions,
(b)higher rates residential property transactions, and
(c)non-residential property transactions.
(2)In this Act, “tax band” means a lower and, if specified, upper amount of money from or, as the case may be, between which a specified percentage tax rate applies.
(3)Regulations under subsection (1)(a) and (c) must specify, in the case of each type of transaction—
(a)a tax band for which the applicable tax rate is 0% (“the zero rate band”),
(b)two or more tax bands above the zero rate band,
(c)the tax rate for each band above the zero rate band so that the rate for each band is higher than the rate for the band below it, and
(d)a date on which the tax bands and tax rates apply in relation to transactions with an effective date on or after that date.
(4)Regulations under subsection (1)(b) must specify—
(a)three or more tax bands,
(b)an applicable tax rate for each band which—
(i)must, in respect of any higher rates residential property transaction, be higher than the highest rate that would be applicable to any amount within that band were that transaction a residential property transaction, and
(ii)except in the case of the lowest band, is higher than the rate applicable to the band below it, and
(c)a date on which the tax bands and tax rates apply in relation to transactions with an effective date on or after that date.
(5)Regulations under subsection (1) may specify—
(a)different tax bands and tax rates in respect of different categories of each type of chargeable transaction (including by reference to different descriptions of buyer);
(b)different dates under subsection (3)(d) or (4)(c) in respect of each specified tax band or tax rate.
(6)A chargeable transaction is a residential property transaction if—
(a)the main subject-matter of the transaction consists entirely of an interest in land that is residential property, or
(b)where the transaction is one of a number of linked transactions, the main subject-matter of each transaction consists entirely of such an interest.
(7)But if Schedule 5 applies to a chargeable transaction it is a higher rates residential property transaction.
(8)A chargeable transaction is a non-residential property transaction if—
(a)the main subject-matter of the transaction consists of or includes an interest in land that is not residential property, or
(b)where the transaction is one of a number of linked transactions, the main subject-matter of any of the transactions consists of or includes such an interest.
(9)Tax bands and tax rates specified in regulations under subsection (1) do not apply in relation to a chargeable transaction in so far as the chargeable consideration for the transaction is rent (for provision about the tax bands and tax rates applicable to chargeable consideration which is rent see paragraphs 27 and 28 of Schedule 6).
(10)Schedule 5 makes provision about higher rates residential property transactions.
(11)The Welsh Ministers may by regulations amend Schedule 5.
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Y Diweddaraf sydd Ar Gael (diwygiedig):Y fersiwn ddiweddaraf sydd ar gael o’r ddeddfwriaeth yn cynnwys newidiadau a wnaed gan ddeddfwriaeth ddilynol ac wedi eu gweithredu gan ein tîm golygyddol. Gellir gweld y newidiadau nad ydym wedi eu gweithredu i’r testun eto yn yr ardal ‘Newidiadau i Ddeddfwriaeth’. Dim ond yn Saesneg y mae’r fersiwn ddiwygiedig ar gael ar hyn o bryd.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed) - Saesneg: Mae'r wreiddiol Saesneg fersiwn y ddeddfwriaeth fel ag yr oedd pan gafodd ei deddfu neu eu gwneud. Ni wnaed unrhyw newidiadau i’r testun.
Gwreiddiol (Fel y’i Deddfwyd neu y’i Gwnaed)-Cymraeg:Y fersiwn Gymraeg wreiddiol o’r ddeddfwriaeth fel yr oedd yn sefyll pan gafodd ei deddfu neu ei gwneud. Ni wnaed unrhyw newidiadau i’r testun.
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 National Assembly for Wales.
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liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys