Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 23 paragraph 71

Updating the index of defined expressions

Schedule 23 paragraph 71 updates the index of defined expressions in the Tax Collection and Management (Wales) Act 2016 by inserting new terms introduced by the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017.

• The index of defined expressions in the Tax Collection and Management (Wales) Act 2016 is updated to include new terms such as "arrangement", "artificial", "tax advantage", and "tax avoidance arrangement" relating to the general anti-avoidance rule.
• Key land transaction tax terms are added to the index, including "buyer", "land transaction", "LTTA" (the Land Transaction Tax Act), and "Welsh Tax Acts".
• Terms relating to the anti-avoidance counteraction process are included, namely "proposed counteraction notice", "final counteraction notice", and "general anti-avoidance rule".
• Each defined expression is cross-referenced to the specific section of the Act where it is formally defined, enabling users to locate the precise legal meaning of each term.