Part 1 Introduction and Key Concepts
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (2017 anaw 1) | Legislation

SCHEDULE 2 Pre-Completion Transactions

(as introduced by section 13)

Part 1 Introduction and Key Concepts

Overview

1

(1)     This Schedule makes provision about the application of this Act (in particular section 10 (contract and transfer)) to pre-completion transactions (the meaning of which is set out in paragraph 3).

(2)     The Schedule is arranged as follows—

(a)     this Part makes introductory provisions setting out the circumstances where this Schedule applies (paragraph 2) and explaining the meaning of “pre-completion transaction” and other key terms referred to in the Schedule;

(b)     Part 2 sets out how this Act applies in cases where the pre-completion transaction is an assignment of rights (the meaning of which is set out in paragraph 6);

(c)     Part 3 sets out how this Act applies in cases involving free-standing transfers (the meaning of which is set out in paragraph 12);

(d)     Part 4 provides for a special rule (“the minimum consideration rule”) which applies to determine the consideration

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