Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 51

Return as a result of later linked transaction

Section 51 requires a buyer to file a new return for an earlier land transaction when a later linked transaction changes the tax position of that earlier transaction.

• When a later linked transaction causes an earlier transaction to become notifiable, or triggers additional or new tax on it, the buyer in the earlier transaction must submit a return for that earlier transaction.
• The return must be filed within 30 days beginning the day after the effective date of the later linked transaction.
• The return must include a self-assessment of the tax now due on the earlier transaction.
• This obligation is separate from, and does not replace, any requirement to file a return for the later transaction itself.