- Latest available (Revised) - English
- Latest available (Revised) - Welsh
- Original (As enacted) - English
- Original (As enacted) - Welsh
There are currently no known outstanding effects for the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Paragraph 8.
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
8(1)This paragraph applies where—E+W
(a)a charity (““C””) is one of two or more buyers acquiring the subject-matter of a land transaction as tenants in common,
(b)C is not a qualifying charity,
(c)paragraph 6(2) to (4) would apply if C were a qualifying charity, and
(d)C intends to hold the greater part of its undivided share of the subject-matter of the transaction for qualifying charitable purposes.
(2)In such a case—
(a)paragraphs 6 and 7 have effect as if C were a qualifying charity, but
(b)for the purposes of paragraph 7 “"disqualifying event”” includes the following if they are made otherwise than in furtherance of C's charitable purposes—
(i)any transfer by C of a major interest in the whole or any part of the subject-matter of the relieved transaction;
(ii)any grant by C at a premium of a low-rental lease of the whole or any part of that subject-matter.
(3)In relation to a transfer or a grant that, by virtue of sub-paragraph (2)(b), is a disqualifying event for the purposes of paragraph 7—
(a)the date of the event for those purposes is the effective date of the relieved transaction, and
(b)paragraph 7 has effect with the modifications in sub-paragraph (4).
(4)The modifications to paragraph 7 are—
(a)sub-paragraph (4) is to have effect as if for ““At the time of”” there were substituted “ Immediately before ”;
(b)sub-paragraph (9)(a) is to have effect as if for ““at the time of”” there were substituted “ immediately before and immediately after ”;
(c)sub-paragraph (9) is to have effect as if paragraph (b) were omitted.
(5)For the purposes of this paragraph—
(a)a lease is granted ““at a premium”” if there is consideration other than rent, and
(b)a lease is a ““low-rental”” lease if the annual rent (if any) is less than £1,000 a year.
(6)In this paragraph—
(a)“"annual rent”” has the meaning given by paragraph 36(2) of Schedule 6, and
(b)“"rent”” has the same meaning as in that Schedule.
Commencement Information
I1Sch. 18 para. 8 in force at 1.4.2018 by S.I. 2018/34, art. 3
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area. The revised version is currently only available in English.
Original (As Enacted or Made) - English: The original English language version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Original (As Enacted or Made) - Welsh:The original Welsh language version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: