http://www.legislation.gov.uk/anaw/2017/1/schedule/15/paragraph/4
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
Expert Participation
2022-09-09
SCHEDULE 15RELIEF FOR CERTAIN TRANSACTIONS RELATING TO SOCIAL HOUSING
PART 3SHARED OWNERSHIP LEASES
Shared ownership lease: transfer of reversion where election made for market value treatment
I14
The transfer of the reversion to the tenant under the terms of a lease to which paragraph 3 applies (shared ownership lease: election for market value treatment) is relieved from tax if—
a
an election was made under paragraph 3, and
b
any tax chargeable in respect of the grant of the lease has been paid.