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Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 7 para 22
The sum of the lower proportions in relation to a transaction
Section Schedule 7 paragraph 22 sets out the five-step method for calculating the "sum of the lower proportions" when a chargeable interest is transferred out of a partnership, which determines how much of the transaction may be exempt from land transaction tax.
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