Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 42

Correction of tax return by WRA

Schedule 23, paragraph 11 amends section 42 of the Tax Collection and Management (Wales) Act 2016 to introduce a payment deadline when the Welsh Revenue Authority corrects a tax return and additional tax becomes due.

• The Welsh Revenue Authority (WRA) has the power to correct errors in land transaction tax returns.
• Where a WRA correction results in additional tax being payable, the taxpayer must pay the amount within 30 days of receiving notice of the correction.
• The 30-day payment window begins on the day the notice of correction is issued by WRA.
• The amendment also clarifies that a taxpayer's right to amend their own return (which would override a WRA correction) applies specifically to amendments made under section 41 of the 2016 Act.