Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 16 paragraph 1

Introduction to group relief

Schedule 16, paragraph 1 introduces and outlines the structure of the schedule dealing with relief from land transaction tax for property transactions between companies in the same corporate group.

• Group relief applies where both the seller and the buyer are companies belonging to the same group.
• The schedule explains what the relief is and how key terms are to be interpreted.
• There are restrictions on when the relief is available and circumstances in which it can be withdrawn after being claimed.
• The schedule also includes provisions allowing the Welsh Revenue Authority to recover unpaid tax from certain connected persons if needed.