Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 5, paragraph 22

Multiple buyers and the higher rates test

Schedule 5, paragraph 22 deals with how the higher rates of Land Transaction Tax apply when there are two or more buyers in a single transaction.

• Where a transaction has two or more buyers, only one of them needs to trigger the higher rates rules for the entire transaction to be subject to higher rates.
• The higher rates apply if any one buyer meets the conditions for a single dwelling purchase (paragraph 20) or a multiple dwellings purchase (paragraph 21).
• This rule applies specifically where the buyer is not an individual — for example, where a company or other non-individual entity is one of the purchasers.
• All buyers in the transaction are affected by the higher rates charge, even if only one buyer triggers it.