Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 20 paragraph 1

Public bodies: reorganisation relief

Schedule 20, paragraph 1 provides relief from land transaction tax where land is transferred between public bodies as part of a reorganisation carried out under legislation.

• Land transactions between two public bodies that arise from a statutory reorganisation are fully relieved from land transaction tax.
• The Welsh Ministers may extend relief by regulations to transactions where only one party is a public body, provided the transaction is effected under a specified enactment.
• A reorganisation covers the establishment, reform or abolition of public bodies, the creation, alteration or abolition of their functions, or the transfer of functions between them.
• Public bodies include UK and Welsh Government ministers, local authorities, NHS bodies, and certain companies wholly owned by those bodies.