Explanatory Notes

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

1

24 May 2017

Commentary on Sections

Part 8 – Interpretation and Final Provisions

Schedule 22 - Miscellaneous reliefs

Co-operative and community benefit society and credit union relief

427. The provisions in paragraph 12 provide relief from LTT where a land transaction takes place in connection with:

• a transfer of engagements between registered societies takes place in accordance with section 110 of the Co-operative and Community Benefit Societies Act 2014 (the “2014 Act”); or

• a registered society is converted or amalgamated with a company, or the whole of the engagements of the registered society is transferred to a company, in accordance with section 112 the 2014 Act.