Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 10 paragraph 4

References to P after death

Schedule 10, paragraph 4 explains how references to the individual (P) in the alternative property finance relief provisions should be interpreted after P has died.

• Paragraphs 2 and 3 of Schedule 10 provide relief for certain land transactions involving financial institutions and individuals (referred to as "P").
• If P dies after entering into the qualifying arrangements, the reliefs do not simply cease to apply.
• After P's death, all references to P in paragraphs 2 and 3 are to be read as references to P's personal representatives.
• This ensures continuity of the relief where, for example, the personal representatives need to complete or unwind the financing arrangement on behalf of the deceased's estate.