Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 Schedule 15 paragraph 1

Reliefs available for certain transactions relating to social housing

Schedule 15 paragraph 1 introduces the schedule and explains how it is organised, setting out the various reliefs and special tax rules that apply to social housing transactions.

• Schedule 15 provides a range of Land Transaction Tax reliefs specifically for social housing transactions in Wales.
• Relief is available for transactions involving a public sector discount, where properties are sold at below market value by public bodies.
• Special rules govern the tax chargeable on shared ownership leases and rent-to-shared-ownership arrangements, whether structured as leases or trusts.
• A separate relief exists for certain property acquisitions made by registered social landlords.