Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 7

Buyer and seller

Section 7 defines who counts as the buyer and who counts as the seller in a land transaction for the purposes of land transaction tax.

• The buyer is the person who acquires the subject-matter of the land transaction.
• The seller is the person who disposes of the subject-matter of the land transaction.
• These definitions apply regardless of whether any consideration (payment or other value) is given for the transaction.
• This means that even gifts of land or transfers for no payment still have a buyer and a seller for land transaction tax purposes.