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

Valid from 18/10/2017

SCHEDULE 6 E+W LEASES

Valid from 01/04/2018

PART 3 E+W RENT AND OTHER CONSIDERATION

Reverse premiums E+W

15 (1) In the case of the grant, assignment or surrender of a lease a reverse premium does not count as chargeable consideration. E+W

(2) A “"reverse premium”” means—

(a) in relation to the grant of a lease, a premium moving from the landlord to the tenant;

(b) in relation to the assignment of a lease, a premium moving from the assignor to the assignee;

(c) in relation to the surrender of a lease, a premium moving from the tenant to the landlord.