Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 14 paragraph 8

Withdrawal of relief for property traders acquiring dwellings

Schedule 14, paragraph 8 sets out the circumstances in which land transaction tax relief previously granted to property traders on certain dwelling acquisitions will be withdrawn.

• Relief is withdrawn if the property trader spends more than the permitted amount on refurbishing the acquired dwelling.
• Relief is withdrawn if the property trader grants a lease or licence over the dwelling, though a short-term lease or licence of up to six months to the selling individual is permitted in certain cases.
• Relief is withdrawn if any of the property trader's principals, employees, or persons connected with them are permitted to occupy the dwelling.
• Where relief is withdrawn, the full amount of land transaction tax that would have been due without the relief becomes chargeable.