Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 37

Power to amend lease assignment and variation rules

Section 37 grants the Welsh Ministers a regulation-making power to change or remove the rules in paragraphs 34 to 36 of Schedule 6, which deal with how tax is charged on lease-related transactions.

• The Welsh Ministers may amend or repeal the provisions in paragraphs 34 to 36 of Schedule 6 by way of regulations.
• Paragraphs 34 to 36 concern the tax treatment of non-rent consideration and rent thresholds for lease assignments and variations.
• This is a delegated power, meaning changes can be made through secondary legislation without a new Act of the Senedd.
• The power provides flexibility for the Welsh Government to update these lease-related tax rules as circumstances require.