Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 21A paragraph 1

Definition of "transaction land"

Schedule 21A paragraph 1 defines the term "transaction land" as used throughout the Schedule.

• The term "transaction land" is a defined term used throughout Schedule 21A.
• It refers to any land in which a chargeable interest is being acquired or disposed of as part of a land transaction.
• A chargeable interest includes ownership, leases, and other interests in land that can give rise to a Land Transaction Tax charge.
• This definition ensures that wherever Schedule 21A refers to "transaction land", it consistently means the specific land that is the subject of the deal in question.