Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Sch 4 para 13

Employment-related land transactions

Schedule 4 paragraph 13 deals with how consideration is determined for land transactions that arise because of the buyer's employment, or the employment of a person connected with the buyer.

• Where an employment-related land transaction gives rise to a taxable benefit-in-kind charge for living accommodation and the buyer pays no rent or less rent than the cash equivalent of the benefit, the buyer is treated as paying rent equal to the cash equivalent amount.
• Where the transaction would normally give rise to a living accommodation benefit charge but is exempt because the accommodation is provided for the performance of duties, the consideration is simply whatever is actually paid (if anything).
• Where neither of the above situations applies, the consideration is treated as being at least equal to the market value of the property at the effective date of the transaction.
• This rule prevents employment-related property transactions from being used to artificially reduce the amount of consideration on which land transaction tax is charged.