Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 8 paragraph 7

Recovery of tax, interest and penalties from trustees of a settlement

Schedule 8 paragraph 7 sets out who among the trustees of a settlement can be pursued for unpaid land transaction tax, late payment interest, excessive repayment assessments, and penalties, and how liability is shared among them.

• Where trustees of a settlement owe LTT, late payment interest, amounts assessed for excessive repayments, or penalties, the Welsh Revenue Authority may recover the debt from any one or more of the responsible trustees, but only once in total.
• Responsible trustees are those who were trustees at the effective date of the land transaction, together with anyone who became a trustee after that date.
• A person who became a responsible trustee only after the relevant time cannot be pursued for penalties or late payment interest on those penalties — this protects incoming trustees from liability for defaults that occurred before their involvement.
• The relevant time for daily penalties is the beginning of the day to which the penalty relates; for all other penalties, it is the time the act or omission that triggered the penalty took place.