Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 10 paragraph 5

Exclusion of alternative property finance reliefs where corporate reliefs apply

Schedule 10 paragraph 5 prevents the alternative property finance reliefs (under paragraphs 2 and 3) from applying where certain corporate transaction reliefs are available on the initial land transaction.

• The sale-and-leaseback relief (paragraph 2) and sale-and-resale relief (paragraph 3) cannot be used where group relief is available on the first transaction.
• The same exclusion applies where acquisition relief is available on the first transaction.
• The same exclusion applies where reconstruction relief is available on the first transaction.
• The exclusion applies even if the group, acquisition or reconstruction relief is later withdrawn — the alternative finance reliefs remain unavailable.