Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 2 paragraph 20

Interpretation of key terms used in Schedule 2

Schedule 2 paragraph 20 provides definitions for key terms used throughout Schedule 2, which deals with contract and transfer arrangements in land transactions.

• The term "contract" is defined broadly to include any agreement, not just formal contracts
• The term "transfer" is defined broadly to include any instrument, not just formal transfer documents
• These wide definitions ensure the Schedule captures all types of arrangements, whether formal or informal
• The broad scope prevents avoidance through the use of alternative terminology or documentation