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

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This is the original version (as it was originally enacted).

First rent review in final quarter of fifth year

This section has no associated Explanatory Notes

11Where—

(a)a lease contains provision under which the rent may be adjusted,

(b)under that provision the first (or only) such adjustment—

(i)is to an amount that (before that adjustment) is uncertain, and

(ii)has effect from a date (the “review date”) that is expressed as falling 5 years after a specified date, and

(c)the specified date falls within the period of 3 months before the beginning of the term of the lease,

this Act applies as if references to the first 5 years of the term of the lease were to the period beginning with the start of the term and ending with the review date and references to the fifth year of the term of the lease are to be read accordingly.

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