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

SCHEDULE 5 HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS

PART 6 INTERPRETATION

Major interest not to include certain leases

37 For the purposes of this Schedule, any term of years absolute or leasehold estate is not a “major interest” if its term does not exceed 7 years on the date of its grant.