Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 46

References in this Schedule to a transfer of a chargeable interest

Paragraph 46 of Schedule 7 clarifies that references to a "transfer" of a chargeable interest throughout the Schedule are to be understood broadly, covering not just outright transfers but also the creation, variation, surrender, or release of such interests.

• The term "transfer" in Schedule 7 is defined broadly and is not limited to a straightforward sale or conveyance of a property interest.
• Creating a new chargeable interest — such as granting a new lease — counts as a transfer for the purposes of the Schedule.
• Varying an existing chargeable interest — for example, changing the terms of a lease — is also treated as a transfer.
• Surrendering or releasing a chargeable interest — such as giving up a lease early — likewise falls within the meaning of a transfer.