Changes over time for: Cross Heading: Overview
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Point in time view as at 26/01/2019.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: Overview.
Changes to Legislation
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OverviewE+W
1(1)This Schedule makes provision about the application of this Act (in particular section 10 (contract and transfer)) to pre-completion transactions (the meaning of which is set out in paragraph 3).E+W
(2)The Schedule is arranged as follows—
(a)this Part makes introductory provisions setting out the circumstances where this Schedule applies (paragraph 2) and explaining the meaning of ““pre-completion transaction”” and other key terms referred to in the Schedule;
(b)Part 2 sets out how this Act applies in cases where the pre-completion transaction is an assignment of rights (the meaning of which is set out in paragraph 6);
(c)Part 3 sets out how this Act applies in cases involving free-standing transfers (the meaning of which is set out in paragraph 12);
(d)Part 4 provides for a special rule (““the minimum consideration rule””) which applies to determine the consideration given in cases where the parties in relation to a pre-completion transaction are connected or are otherwise not acting at arm's length;
(e)Part 5 provides for relief to be available to certain buyers in cases where certain pre-completion transactions are entered into;
(f)Part 6 makes some general interpretative provisions.
Yn ôl i’r brig