Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 6 paragraph 12

Reconsideration date for variable or uncertain rent

Schedule 6 paragraph 12 requires the buyer (tenant) in a lease transaction to redetermine the actual rent paid or payable for the first five years of the lease term once the reconsideration date is reached, where the rent was initially contingent, uncertain, or unascertained.