Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 2 paragraph 6

Meaning of "assignment of rights"

Schedule 2 paragraph 6 defines what constitutes an "assignment of rights" in the context of pre-completion transactions.

• A pre-completion transaction can be classified as an "assignment of rights"
• This applies where the transferee's entitlement relates to exercising rights under the original contract
• The original buyer effectively passes on their contractual rights to a new party before completion
• This is one of the specific types of pre-completion transaction recognised under the Act