Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 25

Procedure for regulations specifying tax bands and tax rates

Section 25 sets out the parliamentary procedures that must be followed when the Welsh Ministers make or change regulations setting out LTT tax bands and tax rates.

• The first set of tax band and rate regulations (for general LTT, residential lease rents, and non-residential or mixed lease rents) must be approved in draft by the Senedd before they can be made.
• Any subsequent changes to tax bands and rates take effect immediately but must be laid before the Senedd and will automatically lapse after 28 days unless the Senedd approves them.
• If the Senedd votes on a motion to approve such subsequent regulations within the 28-day window and the motion is defeated, the regulations cease to have effect at the end of the day of that vote.
• When calculating the 28-day period, any time during which the Senedd is dissolved or in recess for more than four days is excluded.