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

Shared ownership trust transfer upon termination

357.Paragraph 13 provides that where the transaction transfers the interest in the trust property upon the termination of the trust, and an election has been made under paragraph 12, the transaction will be relieved from LTT. This is subject to any LTT chargeable in respect of the declaration of the shared ownership trust being paid.

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