Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 4

Chargeable interest

Section 4 defines what counts as a "chargeable interest" for the purposes of land transaction tax, covering the types of interests in Welsh land that can give rise to a tax charge.

• A chargeable interest includes any estate, interest, right or power in or over land in Wales.
• It also includes the benefit of any obligation, restriction or condition that affects the value of such an estate, interest, right or power.
• Exempt interests are excluded from the definition and are not chargeable interests.
• Land in Wales does not include land below the mean low water mark, and separate rules apply where land straddles the Wales-England border.