http://www.legislation.gov.uk/anaw/2017/1/schedule/15/part/4/crossheading/shared-ownership-trust-declaration-not-linked-with-staircasing-etc
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 4SHARED OWNERSHIP TRUSTS
Shared ownership trust: declaration not linked with staircasing etc.
I116
For the purposes of determining the amount of tax chargeable on the declaration of a shared ownership trust, the declaration is to be treated as if it were not linked to—
a
any equity-acquisition payment under the trust or any consequent increase in the buyer's beneficial interest in the trust property, or
b
a transfer to the buyer of an interest in the trust property on the termination of the trust.