Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw1)

SCHEDULE 11 E+W RELIEF FOR ALTERNATIVE FINANCE INVESTMENT BONDS

PART 3 E+W CONDITIONS FOR OPERATION OF RELIEFS ETC.

Condition 3 E+W

8 (1) Condition 3 is that, for the purpose of generating income or gains for the alternative finance investment bond— E+W

(a) B and A enter into a leaseback agreement, or

(b) such other condition or conditions as may be prescribed is or are met.

(2) For the purposes of condition 3, B and A enter into a leaseback agreement if B grants to A, out of the interest transferred to B—

(a) a lease (if the interest transferred is freehold), or

(b) a sub-lease (if the interest transferred is leasehold).

Commencement Information

I1 Sch. 11 para. 8 in force at 1.4.2018 by S.I. 2018/34, art. 3