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Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Sch 8 para 6
Reallocation of trust property and beneficiary consent
Schedule 8 paragraph 6 confirms that when trustees reallocate trust property among beneficiaries, a beneficiary's consent to giving up an interest in one property in exchange for an interest in another does not create chargeable consideration for the acquisition.
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