Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 29

Calculation provisions subject to certain provisions about reliefs

Section 29 identifies specific relief provisions that can modify the standard rules for calculating the amount of Land Transaction Tax due.

• The normal tax calculation rules for both standalone and linked transactions are overridden where certain reliefs apply.
• These reliefs include multiple dwellings relief, collective enfranchisement relief, corporate acquisition relief, and partial charities relief.
• Where one of these reliefs applies, the tax is calculated using the special method set out in the relevant relief provision rather than the standard method.
• This section acts as a signpost, directing taxpayers to the specific schedules that modify how the tax is computed in qualifying circumstances.