http://www.legislation.gov.uk/anaw/2017/1/schedule/15/paragraph/14
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 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.
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Statute Law Database
2024-04-02
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2022-09-09
SCHEDULE 15RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING
PART 4SHARED OWNERSHIP TRUSTS
Shared ownership trust: staircasing transactions
I114
1
An equity-acquisition payment under a shared ownership trust, and the consequent increase in the buyer's beneficial interest is to be relieved from tax if—
a
an election has been made for relief under paragraph 12, and
b
any tax chargeable in respect of the declaration of the trust has been paid.
2
An equity-acquisition payment under a shared ownership trust, and the consequent increase in the buyer's beneficial interest is also to be relieved from tax if following the increase the buyer's beneficial interest does not exceed 80% of the the total beneficial interest in the trust property.