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

SCHEDULE 5 E+W HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS

Modifications etc. (not altering text)

C1 Sch. 5 applied (with modifications) (1.4.2018) by The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 (S.I. 2018/126), regs. 1(2), 12

PART 2 E+W BUYER IS AN INDIVIDUAL: SINGLE DWELLING TRANSACTIONS

Interest in same main residence exception E+W

7 E+W A transaction is not a higher rates residential property transaction under paragraph 3 if the main subject-matter of the transaction is a major interest in a dwelling—

(a) in which, immediately before the effective date of the transaction, the buyer [F1 or the buyer’s spouse or civil partner] had another major interest, and

(b) which, immediately before and after the effective date of the transaction, is the buyer's only or main residence.

Textual Amendments

F1 Words in Sch. 5 para. 7(a) inserted (1.4.2018) by The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendment to Schedule 5) Regulations 2018 (S.I. 2018/125), regs. 1(2), 2(a)

Commencement Information

I1 Sch. 5 para. 7 in force at 1.4.2018 by S.I. 2018/34, art. 3