PART 3

CALCULATION OF TAX AND RELIEFS

Reliefs

Reliefs
30
1
The following Schedules make provision about reliefs and other provision connected to those reliefs—
- Schedule 9 (sale and leaseback relief);
- Schedule 10 (alternative property finance relief);
- Schedule 11 (relief for alternative finance investment bonds);
- Schedule 12 (relief for incorporation of limited liability partnership);
- Schedule 13 (relief for acquisitions involving multiple dwellings);
- Schedule 14 (relief for certain acquisitions of dwellings);
- Schedule 15 (relief for certain transactions relating to social housing);
- Schedule 16 (group relief);
- Schedule 17 (reconstruction and acquisition reliefs);
- Schedule 18 (charities relief);
- Schedule 19 (open-ended investment company reliefs);
- Schedule 20 (relief for acquisitions by public bodies and health bodies);
- Schedule 21 (compulsory purchase relief and planning obligation relief);
- Schedule 21A (relief for special tax sites);
- Schedule 22 (miscellaneous reliefs).
2
The following provisions of this Act provide relief from tax for certain land transactions (and accordingly if relief is claimed such transactions are not chargeable transactions)—
- paragraphs 18(2) and 19(2) of Schedule 2 (relief for notional transactions associated with assignments of rights and relief for certain subsales);
- paragraph 1 of Schedule 9 (sale and leaseback relief);
- paragraphs 2 and 3 of Schedule 10 (relief for certain alternative property finance transactions);
- paragraphs 13(1) and 15(1) of Schedule 11 (relief for certain transactions relating to alternative finance investment bonds);
- paragraph 1 of Schedule 12 (relief for incorporation of limited liability partnership);
- paragraphs 2(1), 3(1), 4(1), 5(1), 6(1) and 7(1) of Schedule 14 (relief for certain acquisitions of dwellings);
- paragraph 4 of Schedule 15 (shared ownership leases: relief for certain reversions);
- paragraph 6(2) of that Schedule (shared ownership leases: relief for certain staircasing transactions);
- paragraph 13 of that Schedule (shared ownership trust relief: transfer upon termination);
- paragraph 14 of that Schedule (shared ownership trusts: relief for certain staircasing transactions);
- paragraph 19(1) of that Schedule (relief for certain acquisitions by social housing providers);
- paragraph 2(1) of Schedule 16 (group relief);
- paragraph 2(1) of Schedule 17 (reconstruction relief);
- paragraphs 3(1) and 5 of Schedule 18 (charities relief);
- paragraphs 1(1) and 2(1) of Schedule 19 (open-ended investment companies relief);
- paragraphs 1(1) and 2 of Schedule 20 (relief for acquisitions by public bodies and health bodies);
- paragraphs 1(1) and 2(1) of Schedule 21 (compulsory purchase relief and planning obligation relief);
- paragraph 6 of Schedule 21A (relief for special tax sites);
- Schedule 22 (miscellaneous reliefs).
3
The following provisions of this Act provide relief for certain chargeable transactions in the manner specified in the respective provision—
- paragraph 19(3) of Schedule 2 (partial relief for certain subsales);
- Schedule 13 (relief for acquisitions involving multiple dwellings);
- paragraphs 2(3), 3(4), 4(4), 5(3), 6(4) and 7(3) of Schedule 14 (partial relief for certain acquisitions of dwellings which exceed the permitted area);
- paragraph 10 of that Schedule (relief for transactions entered into by persons exercising collective rights);
- paragraph 2 of Schedule 15 (relief relating to contingent consideration in the case of a transaction subject to a public sector discount);
- paragraph 3 of that Schedule (shared ownership leases: election for consideration to be taken to be market value);
- paragraph 5 of that Schedule (shared ownership leases where staircasing allowed: election for consideration to be based on open market value);
- paragraph 12 of that Schedule (shared ownership trusts: election for consideration to be taken to be market value);
- Part 3 of Schedule 17 (acquisition relief);
- paragraphs 6 and 8 of Schedule 18 (partial charities relief in certain circumstances);
- paragraph 7 of Schedule 21A (partial relief for special tax sites).
4
Any relief under the any of the provisions mentioned in subsections (2) and (3) (other than relief under paragraph 3 of Schedule 22 (visiting forces and international military headquarters reliefs)) must be claimed in the first return made in relation to the land transaction, or in an amendment of that return.
5
Relief under paragraph 3 of Schedule 22—
a
may be claimed in the return for the land transaction, or in an amendment of that return, or
b
if not claimed in the return or amended return and the period allowed for amendment of the return has ended, may be claimed by making a claim for repayment of any amount of tax overpaid (see Chapter 7 of Part 3 of TCMA),
and section 78 of TCMA (time limit for making claims) does not apply to a claim for relief under paragraph 3 of Schedule 22.
6
The Welsh Ministers may by regulations amend this Act so as to—
a
add a relief;
b
modify a relief;
c
remove a relief;
d
modify section 31.
S. 30(1) in force at 18.10.2017 for specified purposes by S.I. 2017/953, art. 2(d)
S. 30(1) in force at 1.4.2018 in so far as not already in force by S.I. 2018/34, art. 3
S. 30(2)-(6) in force at 1.4.2018 by S.I. 2018/34, art. 3
Words in s. 30(3) substituted (26.1.2019) by The Abolition of the Right to Buy and Associated Rights (Wales) Act 2018 (Consequential Amendments and Savings Provisions) Regulations 2019 (S.I. 2019/110), regs. 1, 4(a)
Words in s. 30(1) inserted (26.11.2024) by The Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 (S.I. 2024/1193), regs. 1(2), 2(2)(a)
Words in s. 30(2) inserted (26.11.2024) by The Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 (S.I. 2024/1193), regs. 1(2), 2(2)(b)
Words in s. 30(3) inserted (26.11.2024) by The Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 (S.I. 2024/1193), regs. 1(2), 2(2)(c)