Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 18

Chargeable consideration

Section 18 explains what chargeable consideration means in a land transaction and confirms that the Welsh Ministers have the power to change the rules around it.

• Chargeable consideration is essentially the price or value given in exchange for a land transaction, and the detailed rules for determining it are set out in Schedule 4 of the Act.
• Schedule 4 covers what counts as chargeable consideration and how its amount is calculated.
• The Welsh Ministers have the authority to make regulations that amend or repeal the provisions of the Act relating to what counts as chargeable consideration.
• The Welsh Ministers may also use regulations to change how the amount of chargeable consideration is determined.