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

SCHEDULE 15 E+W RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING

PART 4 E+W SHARED OWNERSHIP TRUSTS

Shared ownership trust: treatment of additional payments where no election made E+W

15 E+W Where no election has been made under paragraph 12 in respect of a shared ownership trust—

(a) the initial capital is to be treated as chargeable consideration other than rent, and

(b) any rent-equivalent payment by the buyer is to be treated as a payment of rent.

Commencement Information

I1 Sch. 15 para. 15 in force at 1.4.2018 by S.I. 2018/34, art. 3