Part 3 Acquisition Relief
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (2017 anaw 1) | Legislation

Part 3 Acquisition Relief

Acquisition relief

3

(1)     Where—

(a)     a company (“the acquiring company”) acquires the whole or part of the undertaking of another company (“the target company”), and

(b)     all the conditions specified below are met,

the amount of tax chargeable on a land transaction entered into for the purposes of or in connection with the transfer of the undertaking or part is limited to 0.5% of the chargeable consideration for the transaction (or such other proportion of that consideration as the Welsh Ministers may specify by regulations under this paragraph).

(2)

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