UK Act of Parliament 2017 Wales

LTTADTWA 2017

An Act of the National Assembly for Wales to make provision about the taxation of land transactions; to amend the Tax Collection and Management (Wales) Act 2016 (anaw 6) to make provision about counteracting avoidance of devolved taxes; to make other amendments to that Act; and for connected purposes.

Read the Act on legislation.gov.uk (opens in a new tab)
Enforced by
WRA
Status
In Force
Penalty ceiling
Prosecution 2 of 25 obligations carry a criminal penalty. 1 carries different penalties and 22 have no criminal penalty — flagged in the list below.

Does it bind you?

Business-side roles with duties under this instrument.

Any Person16 Trader4 Director or Officer1

Plus 4 duties on the regulator, Crown ministers and public bodies — folded into the section list below.

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Any Person — also bound by 2340 other Acts
Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties
Director or Officer — also bound by 429 other Acts
Companies Act 2006 126 duties

What it requires

Sections creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

Part 1

OVERVIEW

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.001 Overview of Act (opens in a new tab)
Part 2

THE TAX AND KEY CONCEPTS

0 of 22 sections shown
22 other sections in this Part — procedural and definitional
s.002 Land transaction tax (opens in a new tab)
s.003 Land transaction (opens in a new tab)
s.004 Chargeable interest (opens in a new tab)
s.005 Exempt interest (opens in a new tab)
s.006 Acquisition and disposal of chargeable interest (opens in a new tab)
s.007 Buyer and seller (opens in a new tab)
s.008 Linked transactions (opens in a new tab)
s.009 Land partly in Wales and partly in England (opens in a new tab)
s.010 Contract and transfer (opens in a new tab)
s.011 Contract providing for transfer to third party (opens in a new tab)
s.012 Contract providing for transfer to third party: effect of transfer of rights (opens in a new tab)
s.013 Pre-completion transactions (opens in a new tab)
s.014 Meaning of substantial performance (opens in a new tab)
s.015 Options and rights of pre-emption (opens in a new tab)
s.016 Exchanges (opens in a new tab)
s.017 Chargeable transaction (opens in a new tab)
s.018 Chargeable consideration (opens in a new tab)
s.019 Contingent consideration (opens in a new tab)
s.020 Uncertain or unascertained consideration (opens in a new tab)
s.021 Annuities (opens in a new tab)
s.022 Deemed market value (opens in a new tab)
s.023 Exceptions (opens in a new tab)
Part 3

CALCULATION OF TAX AND RELIEFS

0 of 8 sections shown
8 other sections in this Part — procedural and definitional
s.024 Regulations specifying tax bands and tax rates (opens in a new tab)
s.025 Procedure for regulations specifying tax bands and tax rates (opens in a new tab)
s.026 Tax bands and tax rates applicable when regulations cease to have effect (opens in a new tab)
s.027 Amount of tax chargeable: transactions which are not linked (opens in a new tab)
s.028 Amount of tax chargeable: linked transactions (opens in a new tab)
s.029 Calculation provisions subject to certain provisions about reliefs (opens in a new tab)
s.030 Reliefs (opens in a new tab)
s.031 Reliefs: anti-avoidance (opens in a new tab)
Part 4

LEASES

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.032 Leases (opens in a new tab)
Part 5

APPLICATION OF ACT AND TCMA TO CERTAIN PERSONS AND BODIES

3 of 11 sections shown
s.037 Joint buyers: general rules (opens in a new tab) Regulated
  • Ensure joint buyers jointly meet all Land Transaction Tax dutiesTrader
  • Accept joint and several liability for joint land transactionsAny Person
s.038 Joint buyers: returns and declarations (opens in a new tab) Regulated
  • Submit a single joint tax return and declaration for joint buyersAny Person
  • Submit one LTT return and declaration signed by all joint buyersAny Person
s.043 Persons acting in a representative capacity (opens in a new tab) Regulated
  • Fulfil tax obligations on behalf of a buyer or deceased personDirector or Officer
  • Pay land transaction tax as personal representative or court receiverAny Person
8 other sections in this Part — procedural and definitional
s.033 Companies (opens in a new tab)
s.034 Unit trust schemes (opens in a new tab)
s.035 Open-ended investment companies (opens in a new tab)
s.036 Co-ownership authorised contractual schemes (opens in a new tab)
s.039 Joint buyers: enquiries and assessments (opens in a new tab)
s.040 Joint buyers: appeals and reviews (opens in a new tab)
s.041 Partnerships (opens in a new tab)
s.042 Trusts (opens in a new tab)
Part 6

RETURNS AND PAYMENTS

5 of 22 sections shown
s.051 Return as a result of later linked transaction (opens in a new tab) Regulated
  • File a Land Transaction Tax return for linked transactionsAny Person
  • File a tax return for earlier land purchase when a linked later transaction triggers taxTrader
s.056 Liability for tax (opens in a new tab) Regulated
  • Pay Land Transaction Tax (Wales) when buying land or propertyAny Person
  • Pay Land Transaction Tax when you buy landTrader
s.057 Payment of tax (opens in a new tab) Regulated
  • Pay Land Transaction Tax (Wales) by the filing deadlineAny Person
  • Pay Land Transaction Tax when you file or amend a returnAny Person
s.060 Deferral requests: notices of WRA decisions (opens in a new tab) Regulated
  • Review and act on Land Transaction Tax (LTT) deferral noticesAny Person
Other duties (1) — Crown / regulator
  • WRA must notify you of its decision regarding tax deferral requestsStatutory regulator
s.061 Deferral requests: effect of WRA's decision (opens in a new tab) Regulated
  • Pay deferred Land Transaction Tax by the agreed deadlineAny Person
  • Pay deferred Land Transaction Tax by the deadline set by the WRATrader
17 other sections in this Part — procedural and definitional
s.044 Duty to make a return (opens in a new tab)
s.045 Notifiable transactions (opens in a new tab)
s.046 Exceptions for certain acquisitions of major interests in land (opens in a new tab)
s.047 Contingency ceases or consideration is ascertained: duty to make return (opens in a new tab)
s.048 Contingency ceases or consideration ascertained: repayment of tax (opens in a new tab)
s.049 Further return where relief is withdrawn (opens in a new tab)
s.050 Single return in respect of linked transactions with same effective date (opens in a new tab)
s.052 Power to amend period in which returns must be made (opens in a new tab)
s.053 Declaration (opens in a new tab)
s.054 Buyer with a disability: declaration by the Official Solicitor (opens in a new tab)
s.055 Declaration by person authorised to act on behalf of individual (opens in a new tab)
s.058 Deferral requests in cases of contingent or uncertain consideration (opens in a new tab)
s.059 Calculation of deferrable amount (opens in a new tab)
s.062 Variation of deferral requests (opens in a new tab)
s.063 Failure to comply with WRA's agreement to defer (opens in a new tab)
s.064 Regulations about deferral of tax (opens in a new tab)
s.065 Registration of land transactions (opens in a new tab)
Part 7

GENERAL ANTI-AVOIDANCE RULE

0 of 1 section shown
1 other section in this Part — procedural and definitional
s.066 General anti-avoidance rule (opens in a new tab)
Part 8

INTERPRETATION AND FINAL PROVISIONS

1 of 16 sections shown
s.077 Independent review of land transaction tax (opens in a new tab) Regulated
Other duties (1) — Crown / regulator
  • Welsh Ministers must arrange independent review and publish reportCrown / Minister / Government department
15 other sections in this Part — procedural and definitional
s.067 Meaning of tax (opens in a new tab)
s.068 Meaning of major interest in land (opens in a new tab)
s.069 Meaning of subject-matter and main subject-matter (opens in a new tab)
s.070 Meaning of market value (opens in a new tab)
s.071 Meaning of effective date of transaction (opens in a new tab)
s.072 Meaning of residential property (opens in a new tab)
s.073 Meaning of dwelling (opens in a new tab)
s.074 References to connected persons (opens in a new tab)
s.075 Other definitions (opens in a new tab)
s.076 Amendments to TCMA (opens in a new tab)
s.078 Power to make consequential etc. provision (opens in a new tab)
s.079 Regulations (opens in a new tab)
s.080 Crown application (opens in a new tab)
s.081 Coming into force (opens in a new tab)
s.082 Short title (opens in a new tab)
Schedules

Schedules

8 of 428 shown
s.sch011 (1) Where a charge is discharged in accordance with paragraph... Regulated
Other duties (1) — Crown / regulator
  • WRA must notify Chief Land Registrar of discharge within 30 daysStatutory regulator
s.sch015 (1) This paragraph applies where— (a) a lease is granted—... Regulated
  • Include election for alternative tax calculation in Land Transaction Tax return and do not withdrawAny Person
s.sch023 In section 118 (penalty for failure to make tax return... Prosecution
  • Fail to submit a tax return on timeAny Person

Unlimited fine

s.sch023 In section 119 (penalty for failure to make tax return... Regulated
  • Fail to make a tax return within 6 monthsAny Person
s.sch023 In section 38 (duty to keep and preserve records)— Regulated
  • Keep land transaction tax records for at least 6 yearsAny Person
s.sch023 After section 154 (payment of penalties) insert— Liability of personal... Regulated
  • Personal representatives inherit penalty liabilityAny Person
s.sch023 After section 38 insert— Duty to keep and preserve records:... Regulated
  • Keep records to show no tax return is needed (exempt land transactions)Any Person
s.sch023 After section 181 insert— CHAPTER 3A PAYMENT AND RECOVERY OF... Regulated
Other duties (1) — Crown / regulator
  • WRA must not recover postponed tax during the postponement periodStatutory regulator
420 other schedules
s.005 HIGHER RATES RESIDENTIAL PROPERTY TRANSACTIONS (opens in a new tab)
s.007 PARTNERSHIPS (opens in a new tab)
s.009 SALE AND LEASEBACK RELIEF (opens in a new tab)
s.013 RELIEF FOR ACQUISITIONS INVOLVING MULTIPLE DWELLINGS (opens in a new tab)
s.017 RECONSTRUCTION AND ACQUISITION RELIEFS (opens in a new tab)
s.020 RELIEF FOR ACQUISITIONS BY PUBLIC BODIES AND HEALTH BODIES (opens in a new tab)
s.023 AMENDMENTS TO THE TAX COLLECTION AND MANAGEMENT (WALES) ACT 2016 (opens in a new tab)
s.sch001 OVERVIEW OF SCHEDULES (opens in a new tab)
s.sch001 The Schedules to this Act are arranged as follows—
s.sch002 PRE-COMPLETION TRANSACTIONS (opens in a new tab)
s.sch002 (1) This Schedule makes provision about the application of this...
s.sch002 Where the transferee under the assignment of rights referred to...
s.sch002 (1) This paragraph applies where— (a) the pre-completion transaction is...
s.sch002 A pre-completion transaction which is not an assignment of rights...
s.sch002 (1) This paragraph applies where the pre-completion transaction is a...
s.sch002 (1) This paragraph applies where— (a) the pre-completion transaction is...
s.sch002 (1) This paragraph applies where paragraph 7(3) or 13(2) (pre-completion...
s.sch002 (1) The ““first minimum amount”” is to be determined in...
s.sch002 (1) The ““second minimum amount”” is the total of the...
s.sch002 (1) This paragraph applies where— (a) a person would, in...
s.sch002 (1) This paragraph applies if— (a) the pre-completion transaction is...
s.sch002 (1) This Schedule applies where— (a) a person (““the original...
s.sch002 In this Schedule— “"contract”” (“"contract”") includes any agreement; “"transfer”” (“"trosglwyddiad”")...
s.sch002 The following Table lists expressions defined or otherwise explained in...
s.sch002 (1) A transaction is a pre-completion transaction if—
s.sch002 (1) In this Schedule, references to part of the subject-matter...
s.sch002 The transferee is not regarded as entering into a land...
s.sch002 A pre-completion transaction is an ““assignment of rights”” if the...
s.sch002 (1) This paragraph applies if the pre-completion transaction is an...
s.sch002 (1) Where paragraph 7(4) to (8) applies (assignment of rights:...
s.sch002 (1) This paragraph applies where paragraph 8(1) (transferor treated as...
s.sch003 TRANSACTIONS EXEMPT FROM CHARGE (opens in a new tab)
s.sch003 A land transaction is exempt from charge if there is...
s.sch003 A land transaction under which the buyer is any of...
s.sch003 A transaction between one party to a marriage and the...
s.sch003 A transaction between one party to a civil partnership and...
s.sch003 (1) The acquisition of property by a person in or...
s.sch003 (1) A transaction following a person's death that varies a...
s.sch003 The Welsh Ministers may by regulations amend this Schedule so...
s.sch004 CHARGEABLE CONSIDERATION (opens in a new tab)
s.sch004 The chargeable consideration for a transaction is, except as otherwise...
s.sch004 (1) References in this Act to the amount or value...
s.sch004 (1) Where the whole or part of the consideration for...
s.sch004 (1) Where the whole or part of the consideration for...
s.sch004 Where a land transaction is entered into by reason of...
s.sch004 Where the buyer agrees to indemnify the seller in respect...
s.sch004 Where— (a) there is a land transaction that is—
s.sch004 (1) Where— (a) there is a land transaction under which...
s.sch004 Costs borne by the buyer under section 9(4) of the...
s.sch004 (1) This paragraph applies in any case where arrangements are...
s.sch004 The chargeable consideration for a transaction includes any value added...
s.sch004 The amount or value of the chargeable consideration for a...
s.sch004 (1) For the purposes of this Act, consideration attributable—
s.sch004 (1) This paragraph applies to determine the chargeable consideration where...
s.sch004 In the case of a land transaction giving effect to...
s.sch004 Except as otherwise provided, the value of any chargeable consideration...
s.sch004 (1) Where the chargeable consideration for a land transaction consists...
s.sch004 (1) Where a land transaction would be exempt from charge...
s.sch005 (1) This Schedule makes provision about higher rates residential property...
s.sch005 This Part sets out when a chargeable transaction is a...
s.sch005 (1) A chargeable transaction is a higher rates residential property...
s.sch005 Where there are two or more buyers who are individuals...
s.sch005 (1) This paragraph applies if at least two of the...
s.sch005 (1) A purchased dwelling is not a qualifying dwelling if...
s.sch005 (1) This paragraph applies if— (a) only one of the...
s.sch005 Paragraph 15 does not apply if the main subject-matter of...
s.sch005 (1) Paragraph 15 does not apply if the qualifying dwelling...
s.sch005 (1) This paragraph applies where— (a) the buyer in an...
s.sch005 (1) This paragraph applies to a transaction (“ the acquisition...
s.sch005 This Part sets out when a chargeable transaction where the...
s.sch005 This Part sets out when a chargeable transaction is a...
s.sch005 (1) A chargeable transaction is a higher rates residential property...
s.sch005 (1) This paragraph applies to a transaction (“ the acquisition...
s.sch005 (1) A chargeable transaction is a higher rates residential property...
s.sch005 (1) This paragraph applies to a transaction (“ the acquisition...
s.sch005 Where there are two or more buyers in a transaction,...
s.sch005 (1) This paragraph applies where by reason of paragraph 8(4)...
s.sch005 (1) This paragraph applies where— (a) an acquisition transaction (within...
s.sch005 (1) This paragraph applies where— (a) the buyer in an...
s.sch005 (1) This paragraph applies where by reason of the application...
s.sch005 (1) Sub-paragraph (2) applies in relation to a chargeable transaction...
s.sch005 (1) For the purpose of determining whether paragraph 5 or...
s.sch005 (1) Sub-paragraph (3) applies in relation to a land transaction...
s.sch005 (1) Sub-paragraph (3) applies where— (a) a person is a...
s.sch005 (1) Where— (a) the main subject-matter of a land transaction...
s.sch005 (1) A chargeable transaction is a higher rates residential property...
s.sch005 (1) This paragraph applies where, by reason of paragraph 27...
s.sch005 (1) This paragraph applies in relation to a land transaction...
s.sch005 (1) Sub-paragraph (2) applies in relation to a chargeable transaction,...
s.sch005 (1) This paragraph applies in relation to a chargeable transaction...
s.sch005 (1) This paragraph applies where by virtue of an inheritance—...
s.sch005 (1) In the provisions of this Schedule specified in sub-paragraph...
s.sch005 (1) This paragraph sets out rules for determining what counts...
s.sch005 For the purposes of this Schedule, any term of years...
s.sch005 (1) For the purposes of this Schedule— “ emergency ”...
s.sch005 Where paragraph 9 applies, an intermediate transaction (within the meaning...
s.sch005 (1) This paragraph applies in relation to a transaction if,...
s.sch005 Where there are two or more buyers who are individuals...
s.sch005 A transaction is not a higher rates residential property transaction...
s.sch005 (1) A transaction is not a higher rates residential property...
s.sch005 (1) This paragraph applies where— (a) the buyer in an...
s.sch005 (1) This paragraph applies to a transaction (“ the acquisition...
s.sch006 LEASES (opens in a new tab)
s.sch006 (1) This Schedule makes provision about the application of this...
s.sch006 (1) This paragraph applies where the amount of rent payable...
s.sch006 Where— (a) a lease contains provision under which the rent...
s.sch006 (1) Where, in the case of a land transaction relating...
s.sch006 (1) If, as a result of determining on the reconsideration...
s.sch006 (1) If, as a result of determining on the reconsideration...
s.sch006 (1) In the case of the grant, assignment or surrender...
s.sch006 (1) In the case of a grant of a lease...
s.sch006 (1) Where a lease is granted in consideration of the...
s.sch006 In the case of an assignment of a lease the...
s.sch006 (1) Where, under arrangements made in connection with the grant...
s.sch006 In applying any provision of this Act to a lease...
s.sch006 (1) Where— (a) an agreement for a lease is entered...
s.sch006 (1) This paragraph applies where a person (““P””) assigns P's...
s.sch006 (1) This paragraph applies where the grant of a lease...
s.sch006 (1) Where a lease is assigned, anything that but for...
s.sch006 (1) Where a lease is varied so as to reduce...
s.sch006 (1) Where a lease is varied so as to increase...
s.sch006 For the purposes of this Part of this Schedule, a...
s.sch006 (1) In the case of an acquisition of a residential...
s.sch006 (1) The Welsh Ministers must by regulations specify the tax...
s.sch006 In the case of the acquisition of a non-residential lease...
s.sch006 (1) This paragraph applies to— (a) a lease granted for...
s.sch006 Where the acquisition of a non-residential lease or mixed lease...
s.sch006 The NPV of the rent payable over the term of...
s.sch006 For the purposes of paragraph 31 the ““temporal discount rate””...
s.sch006 (1) Where in the case of an acquisition of a...
s.sch006 (1) This paragraph applies in the case of an acquisition...
s.sch006 (1) This paragraph applies in the case of an acquisition...
s.sch006 (1) In paragraphs 34 and 35— (a) “"the relevant rent””...
s.sch006 The Welsh Ministers may by regulations amend or repeal paragraphs...
s.sch006 (1) This paragraph applies where— (a) (ignoring this paragraph) paragraph...
s.sch006 (1) For the purposes of this Act (except section 46...
s.sch006 (1) For the purposes of this Act a series of...
s.sch006 (1) This paragraph applies where— (a) the tenant under a...
s.sch006 (1) This paragraph applies where— (a) the tenant under a...
s.sch006 (1) For the purposes of this Act, a single sum...
s.sch007 This Schedule makes provision about the application of this Act...
s.sch007 (1) Anything required or authorised to be done under this...
s.sch007 (1) Where the responsible partners are liable to pay—
s.sch007 In this Part of this Schedule— (a) paragraphs 13 to...
s.sch007 (1) This paragraph applies where— (a) a partner transfers a...
s.sch007 The sum of the lower proportions in relation to a...
s.sch007 (1) For the purposes of paragraph 14 (see Step 1),...
s.sch007 (1) For the purposes of paragraph 14 (see Step 2),...
s.sch007 For the purposes of paragraph 14 (Step 4), the proportion...
s.sch007 (1) This paragraph applies where— (a) there is a transfer...
s.sch007 (1) This paragraph applies where— (a) there is a transfer...
s.sch007 This Schedule is arranged as follows— (a) Part 2 makes...
s.sch007 This Part of this Schedule makes provision about the treatment...
s.sch007 (1) This paragraph applies where a chargeable interest is transferred—...
s.sch007 The sum of the lower proportions in relation to a...
s.sch007 (1) For the purposes of paragraph 22 (see Step 1),...
s.sch007 (1) For the purposes of paragraph 22 (see Step 2),...
s.sch007 For the purposes of paragraph 22 (see Step 4), the...
s.sch007 (1) This paragraph applies for the purposes of paragraph 22...
s.sch007 (1) This paragraph applies for the purposes of paragraph 22...
s.sch007 This Part of this Schedule makes provision about—
s.sch007 (1) This paragraph applies where— (a) there is a transfer...
s.sch007 In this Act, a “"partnership”” means— (a) a partnership within...
s.sch007 (1) This paragraph applies where— (a) there is a transaction...
s.sch007 (1) This paragraph applies in relation to a transaction to...
s.sch007 This Part of this Schedule makes provision—
s.sch007 (1) In this Schedule, a ““property-investment partnership”” is a partnership...
s.sch007 (1) This paragraph applies where— (a) there is a transfer...
s.sch007 (1) A lease held as partnership property immediately after a...
s.sch007 (1) Paragraph 13 does not apply to a transfer of...
s.sch007 (1) Where section 16 (exchanges) applies to the acquisition of...
s.sch007 In this Part of this Schedule— (a) paragraph 39 makes...
s.sch007 (1) Paragraph 1 of Schedule 3 (exemption of transactions for...
s.sch007 (1) For the purposes of this Act—
s.sch007 (1) Schedule 16 (group relief) applies to—
s.sch007 (1) This paragraph applies where in calculating the sum of...
s.sch007 (1) Schedule 18 (charities relief) applies to the transfer of...
s.sch007 (1) TCMA applies in relation to land transaction tax in...
s.sch007 (1) A transaction which is a chargeable transaction by virtue...
s.sch007 (1) Any reference in this Schedule to partnership property is...
s.sch007 References in this Schedule to a transfer of a chargeable...
s.sch007 For the purposes of this Schedule, there is a transfer...
s.sch007 For the purposes of this Schedule, where a person acquires...
s.sch007 For the purposes of this Schedule, there is a transfer...
s.sch007 The acquisition of an interest in a partnership is not...
s.sch007 (1) This paragraph applies in relation to a lease for...
s.sch007 (1) Section 1122 of the Corporation Tax Act 2010 (c....
s.sch007 In this Schedule, “"arrangements”” has the meaning given by section...
s.sch007 For the purposes of this Act, a partnership is treated...
s.sch007 For the purposes of this Act, a partnership is not...
s.sch007 This Part of this Schedule applies to land transactions entered...
s.sch007 (1) Anything required or authorised to be done under this...
s.sch008 TRUSTS (opens in a new tab)
s.sch008 (1) This Schedule makes provision about the application of this...
s.sch008 (1) The agreement of all the relevant trustees is required...
s.sch008 (1) Sub-paragraphs (2) and (3) apply where property is held...
s.sch008 (1) In this Schedule, a “"bare trust”” means a trust...
s.sch008 (1) Where a person (““T””) acquires a chargeable interest or...
s.sch008 Where persons acquire a chargeable interest or an interest in...
s.sch008 (1) Sub-paragraph (2) applies where a chargeable interest is acquired...
s.sch008 Where— (a) the trustees of a settlement reallocate trust property...
s.sch008 (1) Where the trustees of a settlement are liable to...
s.sch008 (1) A return in relation to a land transaction may...
s.sch008 (1) If WRA issues a notice of enquiry under section...
s.sch009 The leaseback element of a sale and leaseback arrangement is...
s.sch009 A sale and leaseback arrangement is an arrangement under which—...
s.sch009 (1) The qualifying conditions are— (a) that the sale transaction...
s.sch010 ALTERNATIVE PROPERTY FINANCE RELIEFS (opens in a new tab)
s.sch010 (1) This Schedule makes provision for relief in the case...
s.sch010 (1) This paragraph applies where arrangements are entered into between...
s.sch010 (1) This paragraph applies where arrangements are entered into between...
s.sch010 References in paragraphs 2 and 3 to P are to...
s.sch010 Paragraphs 2 and 3 do not apply to arrangements in...
s.sch010 (1) Paragraph 2 does not apply to alternative finance arrangements...
s.sch010 (1) An interest held by a financial institution as a...
s.sch010 In this Schedule, “"financial institution”” means— (a) a financial institution...
s.sch010 In this Schedule, “"arrangements”” includes any agreement, understanding, scheme, transaction...
s.sch011 RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS (opens in a new tab)
s.sch011 (1) This Schedule makes provision for relief in the case...
s.sch011 Condition 5 is that the total of the payments of...
s.sch011 Condition 6 is that B holds the interest in the...
s.sch011 Condition 7 is that— (a) before the end of the...
s.sch011 (1) The first transaction is relieved from tax if each...
s.sch011 (1) Relief under paragraph 13 is withdrawn if—
s.sch011 (1) The second transaction is relieved from tax if—
s.sch011 If, after the effective date of the second transaction, B...
s.sch011 (1) Relief provided under paragraph 13 or 15 (including where...
s.sch011 (1) Paragraphs 13 to 16 apply with the modifications set...
s.sch011 In this Schedule— “"alternative finance investment bond”” (“"bond buddsoddi cyllid...
s.sch011 For the purposes of this Act— (a) the bond-holder under...
s.sch011 (1) Paragraph 3 does not apply if control of the...
s.sch011 This Part of this Schedule defines conditions 1 to 7...
s.sch011 Condition 1 is that one person (““A””) and another (““B””)...
s.sch011 Condition 2 is that— (a) B, as bond-issuer, enters into...
s.sch011 (1) Condition 3 is that, for the purpose of generating...
s.sch011 (1) Condition 4 is that, before the end of the...
s.sch012 RELIEF FOR INCORPORATION OF LIMITED LIABILITY PARTNERSHIP (opens in a new tab)
s.sch012 A transaction by which a chargeable interest is transferred by...
s.sch012 Condition A is that the effective date of the transaction...
s.sch012 Condition B is that at the relevant time the transferor—...
s.sch012 Condition C is that— (a) the proportions of the chargeable...
s.sch012 (1) In this Schedule— “"limited liability partnership”” (“"partneriaeth atebolrwydd cyfyngedig”")...
s.sch013 This Schedule makes provision about relief available for acquisitions involving...
s.sch013 This Schedule is arranged as follows— (a) paragraph 3 identifies...
s.sch013 (1) This Schedule applies to a relevant transaction.
s.sch013 (1) ““The consideration attributable to dwellings”” is—
s.sch013 (1) If relief under this Schedule is claimed for a...
s.sch013 (1) For the purposes of paragraph 5(1)(a), ““the tax related...
s.sch013 (1) For the purposes of paragraph 5(1)(b), ““the tax related...
s.sch013 (1) Sub-paragraph (3) applies in relation to a chargeable transaction—...
s.sch013 (1) For the purposes of this Schedule, the main subject-matter...
s.sch014 RELIEF FOR CERTAIN ACQUISITIONS OF DWELLINGS (opens in a new tab)
s.sch014 (1) This Schedule makes provision about reliefs available for certain...
s.sch014 (1) This paragraph applies where a chargeable transaction is entered...
s.sch014 (1) Where a housebuilder acquires a dwelling (“"the old dwelling””)...
s.sch014 (1) Where a property trader acquires a dwelling (“"the old...
s.sch014 (1) Where a property trader acquires a dwelling (“"the old...
s.sch014 (1) Where a property trader acquires a dwelling from the...
s.sch014 (1) Where a property trader acquires a dwelling from an...
s.sch014 (1) Where an individual's employer acquires a dwelling from the...
s.sch014 (1) Relief under paragraphs 3 (acquisition by property trader from...
s.sch014 (1) For the purposes of this Part of this Schedule—...
s.sch015 RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING (opens in a new tab)
s.sch015 (1) This Schedule makes provision about reliefs available for certain...
s.sch015 (1) This paragraph applies to paragraphs 11 to 17.
s.sch015 For the purposes of this Act, the person or persons...
s.sch015 (1) This paragraph applies where— (a) a shared ownership trust...
s.sch015 The transfer to the buyer of an interest in the...
s.sch015 (1) An equity-acquisition payment under a shared ownership trust, and...
s.sch015 Where no election has been made under paragraph 12 in...
s.sch015 For the purposes of determining the amount of tax chargeable...
s.sch015 (1) The chargeable consideration for transactions forming part of a...
s.sch015 (1) The chargeable consideration for a rent to mortgage transaction...
s.sch015 (1) A land transaction under which the buyer is a...
s.sch015 (1) In the case of a transaction subject to a...
s.sch015 (1) This paragraph applies where— (a) a lease is granted—...
s.sch015 The transfer of the reversion to the tenant under the...
s.sch015 (1) This paragraph applies where under a shared ownership lease—...
s.sch015 For the purpose of determining the amount of tax chargeable...
s.sch015 (1) The chargeable consideration for transactions forming part of a...
s.sch015 (1) For the purposes of paragraphs 6, 7 and 8,...
s.sch016 GROUP RELIEF (opens in a new tab)
s.sch016 (1) This Schedule makes provision about the relief available for...
s.sch016 (1) Group relief is not withdrawn under paragraph 8 where...
s.sch016 (1) Group relief is not withdrawn under paragraph 8 where—...
s.sch016 (1) Where in the case of a relieved transaction—
s.sch016 (1) This paragraph applies where— (a) tax is chargeable under...
s.sch016 (1) WRA may issue a notice to a person within...
s.sch016 (1) A land transaction is relieved from tax if the...
s.sch016 (1) The following provisions apply for the purposes of group...
s.sch016 (1) Group relief is not available if, at the effective...
s.sch016 (1) Arrangements entered into by a joint venture company which,...
s.sch016 (1) Arrangements entered into by a company which, apart from...
s.sch016 In this Part of this Schedule, a transaction that is...
s.sch016 (1) Where sub-paragraph (2) applies, group relief in relation to...
s.sch016 (1) Group relief is not withdrawn under paragraph 8 in...
s.sch017 (1) This Schedule makes provision about reconstruction relief and acquisition...
s.sch017 (1) Where— (a) a company (“"the acquiring company””) acquires the...
s.sch017 (1) Where— (a) a company (“"the acquiring company””) acquires the...
s.sch017 In this Part and in Part 5 of this Schedule,...
s.sch017 (1) Where sub-paragraph (2) applies, reconstruction or acquisition relief in...
s.sch017 (1) Reconstruction or acquisition relief is not withdrawn under paragraph...
s.sch017 (1) Reconstruction or acquisition relief in relation to a relieved...
s.sch017 (1) This paragraph applies where— (a) tax is chargeable under...
s.sch017 (1) WRA may issue a notice to a person within...
s.sch018 CHARITIES RELIEF (opens in a new tab)
s.sch018 This Schedule is arranged as follows— (a) paragraph 2 defines...
s.sch018 (1) In this Schedule, a charity (““C””) which is a...
s.sch018 For the purpose of this Schedule, “charity” means a body...
s.sch018 (1) A body of persons or trust meets the jurisdiction...
s.sch018 (1) A body of persons or trust meets the registration...
s.sch018 (1) A body of persons or trust meets the management...
s.sch018 (1) A land transaction is relieved from tax where the...
s.sch018 (1) This paragraph applies where— (a) a land transaction is...
s.sch018 (1) This paragraph applies where— (a) a land transaction is...
s.sch018 (1) This paragraph applies where— (a) there are two or...
s.sch018 (1) This paragraph applies where— (a) a land transaction is...
s.sch018 (1) This paragraph applies where— (a) a charity (““C””) is...
s.sch018 (1) This Schedule applies to the following trusts as it...
s.sch019 OPEN-ENDED INVESTMENT COMPANY RELIEFS (opens in a new tab)
s.sch019 (1) A land transaction transferring any property which is subject...
s.sch019 (1) A land transaction transferring any property which is subject...
s.sch019 (1) For the purposes of this Schedule, “"the whole of...
s.sch020 (1) A land transaction entered into on, or in consequence...
s.sch020 A land transaction is relieved from tax if the buyer...
s.sch021 COMPULSORY PURCHASE RELIEF AND PLANNING OBLIGATIONS RELIEF (opens in a new tab)
s.sch021 (1) A compulsory purchase facilitating development is relieved from tax....
s.sch021 (1) A land transaction that is entered into in order...
s.sch021a RELIEF FOR SPECIAL TAX SITES
s.sch021a In this Schedule, “ transaction land ”, in relation to...
s.sch021a (1) In this Part, a transaction that is relieved from...
s.sch021a (1) In this Schedule, the “ control period ”, in...
s.sch021a (1) This paragraph applies where the buyer ceases to hold...
s.sch021a (1) This paragraph applies where either of the following applies—...
s.sch021a In this Schedule, “ special tax site ” means the...
s.sch021a For the purposes of this Schedule, transaction land is “qualifying...
s.sch021a (1) For the purposes of this Schedule, transaction land is...
s.sch021a In this Part, the “ relief period ” means
s.sch021a (1) This paragraph applies if— (a) 100% of the chargeable...
s.sch021a (1) This paragraph applies if— (a) the proportion of the...
s.sch021a (1) For the purposes of this Schedule, the consideration attributable...
s.sch021a (1) This paragraph applies if— (a) a land transaction is...
s.sch022 MISCELLANEOUS RELIEFS (opens in a new tab)
s.sch022 A land transaction entered into by or under the direction...
s.sch022 (1) A land transaction is relieved from tax if it...
s.sch022 (1) A land transaction is relieved from tax if it...
s.sch022 (1) A land transaction is relieved from tax if it...
s.sch022 (1) A land transaction entered into by or under the...
s.sch022 A land transaction entered into with a view to—
s.sch022 (1) Paragraph 3 has effect in relation to a designated...
s.sch022 In paragraphs 3 and 4, “"visiting force”” means any body,...
s.sch022 A land transaction— (a) which is entered into under section...
s.sch022 (1) A land transaction to which the Welsh Ministers are...
s.sch022 A land transaction is relieved from tax if the buyer...
s.sch022 (1) A land transaction is relieved from tax where an...
s.sch023 TCMA is amended as follows.
s.sch023 In section 41 (amendment of tax return by taxpayer), for...
s.sch023 In section 42 (correction of tax return by WRA)—
s.sch023 In section 43 (notice of enquiry)— (a) in subsection (1),...
s.sch023 In section 45 (amendment of tax return during enquiry to...
s.sch023 After section 45 insert— Amendment of tax return by taxpayer...
s.sch023 In section 50 (completion of enquiry), in subsection (4), for...
s.sch023 In section 52 (determination of tax chargeable if no tax...
s.sch023 In the Welsh text, in section 54 (assessment where loss...
s.sch023 In section 58 (conditions for making WRA assessments)—
s.sch023 In section 59 (time limits for WRA assessments), in subsection...
s.sch023 In section 1 (overview of Act), after paragraph (b) insert—...
s.sch023 In section 61 (assessment procedure), omit subsection (3).
s.sch023 In the Welsh text, in the heading to Chapter 7...
s.sch023 In the Welsh text, in section 62 (claims for relief...
s.sch023 In section 63 (claims for relief for overpaid tax etc.)—...
s.sch023 After section 63 insert— Claim for relief in respect of...
s.sch023 (1) In section 64 (disallowing claims for relief due to...
s.sch023 In the Welsh text, in section 65 (unjustified enrichment: further...
s.sch023 In section 66 (unjustified enrichment: reimbursement arrangements)—
s.sch023 In section 67 (cases in which WRA need not give...
s.sch023 In section 68 (making claims)— (a) in subsection (1), for...
s.sch023 In the Welsh text, in section 37 (overview of Part),...
s.sch023 In section 69 (duty to keep and preserve records), in...
s.sch023 In section 71 (amendment of claim by claimant), in subsection...
s.sch023 In the Welsh text, in section 73 (giving effect to...
s.sch023 In the Welsh text, in section 77 (giving effect to...
s.sch023 In section 81 (contract settlements)— (a) after subsection (1) insert—...
s.sch023 In section 90 (requiring information and documents in relation to...
s.sch023 In section 95 (complying with an information notice), in subsection...
s.sch023 In the Welsh text, in section 100 (taxpayer notices following...
s.sch023 In section 116(1) (no review or appeal of tribunal approvals),...
s.sch023 In Chapter 2 of Part 3, in the chapter heading...
s.sch023 In section 120 (penalty for failure to make tax return...
s.sch023 For section 122 substitute— Penalty for failure to pay tax...
s.sch023 Omit sections 123 and 124.
s.sch023 In section 125 (special reduction in penalty), after subsection (2)...
s.sch023 In section 126 (reasonable excuse for failure to make tax...
s.sch023 In section 127 (assessment of penalties)— (a) in subsection (5),...
s.sch023 In section 128 (time limit for assessment of penalties under...
s.sch023 In section 130 (amount of penalty for inaccuracy in document...
s.sch023 In section 132 (penalty for deliberate inaccuracy in document given...
s.sch023 In section 133 (penalty for failure to notify under-assessment or...
s.sch023 In section 141 (assessment of penalties under Chapter 3), in...
s.sch023 In the Welsh text, in section 142 (interpretation of Chapter...
s.sch023 In section 143 (penalty for failure to keep and preserve...
s.sch023 In section 144 (reasonable excuse for failure to keep and...
s.sch023 In section 145 (assessment of penalties under section 143), in...
s.sch023 Omit the italic cross-heading immediately preceding section 157.
s.sch023 For sections 157 and 158 substitute— Late payment interest on...
s.sch023 Omit section 159 (late payment interest start date: amendments to...
s.sch023 In section 169 (proceedings in magistrates' court), after subsection (5)...
s.sch023 In section 170(1) (enforcement by taking control of goods), for...
s.sch023 In section 172(2) (list of appealable decisions), after paragraph (e)...
s.sch023 In section 182 (payment of penalties in the event of...
s.sch023 After section 183 insert— Suspension of repayment pending further appeal...
s.sch023 Before section 188 (power to make consequential provision etc.) insert—...
s.sch023 In section 189 (regulations), in subsection (2), after ““18(2)”” insert...
s.sch023 In section 190 (issue of notices by WRA)—
s.sch023 In section 191 (giving notices and other documents to WRA)—...
s.sch023 In section 39 (preservation of information etc.), after ““38”” insert...
s.sch023 In section 192(2) (interpretation), in the appropriate places, insert— “"buyer””...
s.sch023 In section 193 (index of defined expressions), in Table 1,...
s.sch023 After section 39 insert— Power to make regulations about records...
s.sch023 In section 40 (meaning of filing date), for ““this Act””...

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Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.