Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 2 paragraph 16

First minimum amount for pre-completion transactions

Schedule 2 paragraph 16 sets out how to determine the "first minimum amount" used in calculating the consideration for land transaction tax purposes when a pre-completion transaction (such as an assignment of rights or a free-standing transfer) takes place before the original contract is completed.