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

Relief for certain acquisitions involving public bodies

405.Paragraph 1 of this Schedule provides relief from LTT for certain land transactions entered into between qualifying public bodies in connection with a statutory reorganisation. Relief may also be claimed where the Welsh Ministers make regulations under sub-paragraph (2) where there is a reorganisation and one of the parties to the land transaction is a public body.

406.In this paragraph, “reorganisation” means changes involving:

  • the establishment, reform or abolition of one or more public bodies;

  • the creation, alteration or abolition of functions to be discharged by one or more public bodies; or

  • the transfer of functions from one public body to another.

407.Sub-paragraph (4) provides a list of those entities that constitute a public body for the purposes of this paragraph. References to public body in this paragraph also include a company where all the shares of the company are owned by the public body and the public body is a wholly owned subsidiary of such a company.

408.The Welsh Ministers may add to the list of public bodies in sub-paragraph (4) by regulation.

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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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