Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 13 paragraph 5

Calculating tax where multiple dwellings relief is claimed

Schedule 13, paragraph 5 explains how the total land transaction tax is calculated when multiple dwellings relief is claimed for a qualifying transaction.

• When multiple dwellings relief is claimed, the tax is calculated in two separate parts rather than as a single sum.
• The first part of the tax relates to the portion of the consideration attributable to the dwellings in the transaction.
• The second part of the tax relates to any remaining consideration that is not attributable to the dwellings, for example non-residential elements.
• Where the consideration includes rent (as in a lease), the calculation is modified by the specific rules for leases set out in Part 5 of Schedule 6.