Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 3

Land transaction

Section 3 defines what constitutes a "land transaction" for the purposes of Land Transaction Tax in Wales.

• A land transaction means the acquisition of a chargeable interest in land situated in Wales.
• The tax applies regardless of how the acquisition comes about — whether by agreement between the parties, by court order, by statute, or by operation of law.
• There are limited exceptions where the Act specifies that certain acquisitions are treated differently.
• Special rules apply to the acquisition of options and rights of pre-emption, which may also be treated as land transactions.