Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 17

Chargeable transaction

Section 17 establishes the general rule that all land transactions in Wales are chargeable to Land Transaction Tax unless a specific exemption or relief applies.

• The default position is that every land transaction is a chargeable transaction, meaning it is subject to Land Transaction Tax.
• A transaction escapes the charge entirely if it falls within one of the exemptions listed in Schedule 3 of the Act — these are automatic and do not need to be claimed.
• A transaction may also be relieved from tax under one of the relief provisions listed in section 30(2), but only if the taxpayer actively claims that relief.
• The distinction between exemptions and reliefs is important: exemptions apply automatically, whereas reliefs must be claimed in the land transaction return.