Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 64

Regulations about deferral of tax

Section 64 gives the Welsh Ministers the power to make regulations extending or modifying the rules on deferring land transaction tax payments in certain specific circumstances.

• The Welsh Ministers may make regulations allowing tax to be deferred where the consideration that has not yet been determined consists of rent.
• Regulations may also apply the deferral rules (with modifications) where the consideration involves construction, improvement or repair works, other works that enhance the value of land, or the provision of services.
• Regulations may allow the Welsh Revenue Authority (WRA) to vary a deferral arrangement without the buyer having to make a formal request — either by agreement with the buyer or by the WRA imposing the variation.
• Any regulations made under this section may modify other provisions of the Act as the Welsh Ministers consider necessary or appropriate.