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

Part 6 - Interpretation

225.Paragraph 35 sets out the rules that apply in establishing whether a buyer holds a major interest in a dwelling located outside Wales. This will include any such dwelling that would be a dwelling for SDLT purposes in England. Outside England and Wales it will be any dwelling that meets equivalent ownership rules. Where it is a child that owns the major interest in a dwelling outside Wales then that child’s parent (and their spouse or civil partner) are deemed to own the interest (unless they are not living together).

226.Paragraph 35(7) dis-applies the effect of paragraph 35(5) in circumstances where an incapacitated child’s interest is acquired, held on trust, or disposed of, by a deputy appointed under the Mental Capacity Act 2005 (or a person acting in an equivalent capacity outside Wales and England), in relation to interests held outside Wales.

227.Paragraph 36 sets out what is a dwelling for the purposes of the Schedule. It includes a building or part of a building that is used or suitable for use as a dwelling or is in the process of being constructed or adapted for use as a dwelling. It will also include any dwelling to be constructed or adapted under contract for use as a dwelling.

228.Paragraph 37 makes it clear that a major interest for the purposes of this schedule does not include a lease granted for less than 7 years.

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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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