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

SCHEDULE 6 E+W LEASES

PART 4 E+W AGREEMENTS FOR LEASE, ASSIGNMENTS AND VARIATIONS

Reduction of rent or term or other variation of lease E+W

24 (1) Where a lease is varied so as to reduce the amount of the rent, the variation is treated for the purposes of this Act as an acquisition of a chargeable interest by the tenant. E+W

(2) Where any consideration in money or money's worth (other than an increase in rent) is given by the tenant for any variation of a lease, other than a variation of the amount of the rent or of the term of the lease, the variation is treated for the purposes of this Act as an acquisition of a chargeable interest by the tenant.

(3) Where a lease is varied so as to reduce the term, the variation is treated for the purposes of this Act as an acquisition of a chargeable interest by the landlord.

Commencement Information

I1 Sch. 6 para. 24 in force at 1.4.2018 by S.I. 2018/34, art. 3