Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 6 paragraph 28

Tax bands and rates for rent on non-residential and mixed leases

Schedule 6 paragraph 28 requires the Welsh Ministers to set, by regulations, the tax bands and percentage rates that apply to the rental element of non-residential leases and mixed leases.

• The Welsh Ministers must specify tax bands and corresponding percentage rates for the rent payable under non-residential and mixed leases.
• The regulations must include a zero-rate band (the "NRL zero rate band") and at least two further bands above it, each with a progressively higher rate.
• The regulations must state the date from which the specified bands and rates take effect, applying to transactions with an effective date on or after that date.
• Different bands, rates and commencement dates may be set for different categories of non-residential or mixed lease.