Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 2

Land transaction tax

Section 2 establishes land transaction tax as a charge on land transactions in Wales and sets out its broad scope and administration.

• A tax known as land transaction tax is charged on land transactions in Wales.
• The tax applies whether or not there is a formal document (such as a deed or contract) that gives effect to the transaction.
• The tax applies regardless of where any document is signed or where any party to the transaction is located or resident.
• The Welsh Revenue Authority (WRA) is responsible for collecting and managing the tax.