Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 7

Partial relief where only part of the consideration relates to qualifying land

Schedule 21A paragraph 7 deals with how the tax reduction is calculated when only part of the price paid for a land transaction relates to qualifying land, and the transaction takes place within the relief period.

• This provision applies where the proportion of the total price attributable to qualifying land is less than 100%.
• The transaction must take place within the designated relief period to qualify.
• The tax due on the transaction is reduced by the same proportion as the qualifying land bears to the total consideration.
• This means only a partial relief is given, reflecting the extent to which the transaction involves qualifying land.