Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw1)

SCHEDULE 15 RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING

PART 3 SHARED OWNERSHIP LEASES

Shared ownership lease: transfer of reversion where election made for market value treatment

4 The transfer of the reversion to the tenant under the terms of a lease to which paragraph 3 applies (shared ownership lease: election for market value treatment) is relieved from tax if—

(a) an election was made under paragraph 3, and

(b) any tax chargeable in respect of the grant of the lease has been paid.