Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 section 74

References to connected persons

Section 74 explains how the concept of "connected persons" is defined for the purposes of Land Transaction Tax, by referring to the Corporation Tax Act 2010, while noting specific exceptions found elsewhere in the Act.

• The definition of "connected persons" for LTT purposes is imported from section 1122 of the Corporation Tax Act 2010, which sets out when individuals, companies, and other entities are treated as connected to one another.
• Under that definition, individuals are connected with their relatives (spouses, civil partners, siblings, ancestors, and lineal descendants), and with the relatives' spouses or civil partners. Companies are connected with persons who control them and with other companies under common control.
• Several provisions within the Act modify or supplement this general definition in specific contexts, including transactions with connected companies, partnership transactions, group relief for joint ventures, and mortgage arrangements.
• When dealing with any of these specific areas, the particular rules in those provisions take priority over or supplement the general connected persons definition.

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