Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 Schedule 15 paragraph 11

Who is treated as the buyer of trust property

Schedule 15 paragraph 11 confirms that for land transaction tax purposes, the buyer of trust property is the person identified under the rules in paragraph 10, not the social landlord or any other beneficiary of the trust.

• The buyer of trust property is determined by the identification rules set out in paragraph 10 of Schedule 15.
• The social landlord involved in the trust arrangement is not treated as the buyer, even if they have an interest in the property.
• No other beneficiary of the trust is treated as the buyer either.
• This rule applies for all purposes of the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017.