Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section Schedule 22 paragraph 8

Relief for certain museum and heritage trustees

Schedule 22 paragraph 8 provides that land transactions are fully relieved from land transaction tax when the buyer is one of three specified bodies of trustees responsible for major national museums and heritage.

• Land transactions are exempt from land transaction tax when the buyer is one of three named trustee bodies.
• The exempt bodies are the Trustees of the British Museum, the Trustees of the National Heritage Memorial Fund, and the Trustees of the Natural History Museum.
• The relief applies automatically by virtue of the buyer's identity — no application or conditions need to be met beyond confirming the buyer is one of the listed bodies.
• This ensures that acquisitions of land in Wales by these nationally significant institutions are not subject to land transaction tax.