The Land Transaction Tax (Modification of Special Tax Sites Relief) (Wales) Regulations 2025

Welsh Statutory Instruments

2025 No. 54 (W. 14)

Land Transaction Tax, Wales

The Land Transaction Tax (Modification of Special Tax Sites Relief) (Wales) Regulations 2025

Made

22 January 2025

Coming into force

23 January 2025

The Welsh Ministers, in exercise of the power conferred by section 30(6) of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017(1), make the following Regulations.

In accordance with section 79(2)(d) of that Act, a draft of these Regulations was laid before and approved by a resolution of Senedd Cymru.

Title and coming into force

1.—(1) The title of these Regulations is the Land Transaction Tax (Modification of Special Tax Sites Relief) (Wales) Regulations 2025.

(2) These Regulations come into force on 23 January 2025.

Modification of relief for special tax sites

2.—(1) Schedule 21A to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 is amended as follows.

(2) For paragraph 2 (meaning of special tax site) substitute—

“2.   In this Schedule, “special tax site” means the areas designated as special areas by—

(a) the Designation of Special Tax Sites (Celtic Freeport) Regulations 2024 (S.I. 2024/1035) as made on 16 October 2024;

(b) the Designation of Special Tax Sites (Anglesey Freeport) Regulations 2024 (S.I. 2024/1286) as made on 4 December 2024.”

(3) In paragraph 5 (meaning of relief period)—

(a) the words “the period beginning with 26 November 2024 and ending with 30 September 2029.” become sub-paragraph (a);

(b) in sub-paragraph (a), at the beginning insert “in so far as the reference relates to the special tax site mentioned in paragraph 2(a),”;

(c) after sub-paragraph (a) insert—

“(b) in so far as the reference relates to the special tax site mentioned in paragraph 2(b), the period beginning with 23 January 2025 and ending with 30 September 2029.”

Mark Drakeford

Cabinet Secretary for Finance and Welsh Language, one of the Welsh Ministers

22 January 2025

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 to amend Schedule 21A (relief for special tax sites) which provides for a relief from land transaction tax for qualifying transactions of land within a special tax site.

Regulation 2 amends paragraph 2 of Schedule 21A to extend the relief for special tax sites to an additional special tax site and paragraph 5 to include the relief period for that new special tax site.

These Regulations will come into force on 23 January 2025.

The Welsh Ministers’ Code of Practice on the carrying out of regulatory impact assessments was considered in relation to these Regulations. As a result, a regulatory impact assessment has been prepared as to the likely costs and benefits of complying with these Regulations. A copy can be obtained from the Welsh Government, Cathays Park, Cardiff, CF10 3NQ.

(1)

2017 anaw 1.