Changes over time for: Cross Heading: Relief for the second transaction
No versions valid at: 18/10/2017
Status:
Point in time view as at 18/10/2017. This version of this cross heading contains provisions that are not valid for this point in time.
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Changes to legislation:
There are currently no known outstanding effects for the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Cross Heading: Relief for the second transaction.
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Yn ddilys o 01/04/2018
Relief for the second transactionE+W
15(1)The second transaction is relieved from tax if—E+W
(a)each of conditions 1 to 7 is met, and
(b)the provisions of this Act and TCMA in relation to the first transaction are complied with.
(2)Where the qualifying interest in land is replaced as the bond asset by an interest in other land, sub-paragraph (1) is subject to paragraph 18 (replacement of asset).
(3)Sub-paragraph (1) is also subject to paragraph 17 (no relief where bond-holder acquires control of underlying asset).
Yn ôl i’r brig