Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 11 paragraph 16

Release of the WRA charge on land

Schedule 11 paragraph 16 explains how the charge registered against the land by the Welsh Revenue Authority (WRA) is released once the buyer provides the required evidence that the relevant conditions have been satisfied.

• After the second transaction takes effect, the buyer (B) may apply to have the WRA's registered charge on the land removed.
• To achieve this, B must provide the WRA with prescribed evidence confirming that conditions 1 to 3 and 5 to 7 of the higher rates refund process have all been met.
• Once the WRA is satisfied that the evidence has been provided, the land automatically ceases to be subject to the charge that was registered under condition 4.
• This mechanism ensures the charge does not remain on the property indefinitely and is lifted once the buyer demonstrates compliance with the scheme's requirements.