Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 5 paragraph 13

Qualifying dwellings for higher rates

Schedule 5, paragraph 13 sets out when a purchased dwelling counts as a "qualifying dwelling" for the purpose of determining whether the higher rates of Land Transaction Tax apply to a transaction involving multiple dwellings.

• At least two of the purchased dwellings must be qualifying dwellings for the higher rates provisions in this part of the Schedule to apply.
• A purchased dwelling is a qualifying dwelling if the portion of the chargeable consideration fairly attributable to it is £40,000 or more.
• A dwelling is not a qualifying dwelling if it is subject to a lease not held by a person connected with the buyer and that lease has more than 21 years left to run, where what is being purchased is the reversion on that lease.
• A dwelling is also not a qualifying dwelling if it falls within the subsidiary dwelling exception set out in paragraph 14 of Schedule 5.