Changes over time for: Cross Heading: Relief for the second transaction
Status:
Point in time view as at 26/01/2019.
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.
Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
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).
Modifications etc. (not altering text)
Commencement Information
Yn ôl i’r brig