Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 4 paragraph 1

Chargeable consideration

Schedule 4 paragraph 1 defines what counts as the chargeable consideration for a land transaction for the purposes of Land Transaction Tax.

• The chargeable consideration is whatever is given in exchange for the land or property being acquired.
• It includes not only cash payments but also anything else of monetary value (known as "money's worth").
• It covers consideration provided directly or indirectly, whether by the buyer personally or by a person connected with the buyer.
• Other provisions in the Act may modify or override this general rule in specific circumstances.