Changes over time for: Cross Heading: Consideration for exercise of power of appointment or discretion
No versions valid at: 25/05/2017
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Point in time view as at 25/05/2017. 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: Consideration for exercise of power of appointment or discretion.

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Yn ddilys o 18/10/2017
Yn ddilys o 01/04/2018
Consideration for exercise of power of appointment or discretionE+W
5(1)Sub-paragraph (2) applies where a chargeable interest is acquired by virtue of—U.K.
(a)the exercise of a power of appointment, or
(b)the exercise of a discretion vested in trustees of a settlement.
(2)Any consideration given for the person in whose favour the appointment was made or the discretion was exercised becoming an object of the power or discretion is to be treated as consideration for the acquisition of the interest.
Yn ôl i’r brig