No versions valid at: 25/05/2017
Point in time view as at 25/05/2017. This version of this cross heading contains provisions that are not valid for this point in time.
There are currently no known outstanding effects for the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Cross Heading: Determining the tax related to the remaining consideration.
Valid from 18/10/2017
Valid from 01/04/2018
7(1)For the purposes of paragraph 5(1)(b), ““the tax related to the remaining consideration”” is the appropriate fraction of the amount of tax which (but for this Schedule) would be due in respect of the relevant transaction.E+W
(2)In sub-paragraph (1), “"the appropriate fraction”” means—
Figure 13 where—
““RC”” is the remaining consideration for the relevant transaction,
““TDC”” is total dwellings consideration, and
““TRC”” is total remaining consideration.
(3)The ““total remaining consideration”” is—
(a)for a transaction that is not one of a number of linked transactions, the remaining consideration for that transaction;
(b)for one of a number of linked transactions—
(i)the total of the chargeable consideration for all those transactions, less
(ii)total dwellings consideration.
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