Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 9 para 1

Alternative property finance arrangements — introduction and overview

Schedule 9, paragraph 1 introduces the relief provisions that apply to certain land transactions connected with alternative property finance arrangements, and explains how the schedule is structured.

• Schedule 9 provides relief from land transaction tax for certain transactions linked to alternative property finance arrangements (such as Sharia-compliant property finance).
• Part 2 of the schedule specifies the circumstances in which qualifying transactions are relieved from tax.
• Part 3 of the schedule identifies the circumstances in which the relief is not available.
• Parts 4 and 5 deal with the treatment of financial institutions' interests as exempt, and define key terms used throughout the schedule.