Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 35

Amendments to information powers relating to groups of undertakings

Section 35 of Schedule 23 amends the rules in section 90 of the Tax Collection and Management (Wales) Act 2016 about when WRA can require information and documents from a group of undertakings, broadening the definition of subsidiary undertakings for land transaction tax purposes.

• Section 90 of the 2016 Act allows WRA to require information and documents from members of a group of undertakings.
• The amendment updates the reference to subsidiary undertakings to align with a broader definition under the Companies Act 2006.
• The definitions of parent and subsidiary undertakings now draw on sections 1161 and 1162 of, and Schedule 7 to, the Companies Act 2006.
• For land transaction tax purposes, the definition of subsidiary undertaking is widened to include undertakings that are not necessarily carrying on a trade or business with or without a view to profit.