Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 61

Deferral requests: effect of WRA's decision

Section 61 explains what happens after the Welsh Revenue Authority (WRA) decides whether to agree or refuse a request to defer payment of land transaction tax, including the revised payment deadlines and when late payment interest starts to accrue.

• Where WRA agrees to defer tax, the buyer must pay the deferred amount by the end of the day after the deferral period expires, and late payment interest only begins to run from the day after that revised deadline.
• Where WRA refuses to defer the full amount requested (either in whole or in part), the refused amount must be paid by the later of the date the buyer is notified of the decision or the date it would normally have been due.
• Late payment interest on a refused amount starts from the later of the day after the refused amount becomes due or the date interest would normally have started under standard rules.
• If the tax liability later changes because a contingency is resolved or uncertain consideration becomes known, separate provisions apply requiring the buyer to file a further return or claim a repayment as appropriate.