Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 3 paragraph 7

Power to amend exempt transactions

Schedule 3 paragraph 7 gives the Welsh Ministers the power to change, by regulations, which types of land transactions are exempt from land transaction tax.

• The Welsh Ministers can amend Schedule 3 by making regulations, without needing a new Act of the Senedd.
• They can add new categories of land transaction to the list of exempt transactions, so that those transactions are no longer subject to land transaction tax.
• They can remove existing exemptions, meaning a type of transaction that was previously exempt would become chargeable to tax.
• They can vary or modify the description of a currently exempt transaction, for example by narrowing or broadening the conditions under which the exemption applies.