SCHEDULE 4 Chargeable Consideration
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (2017 anaw 1) | Legislation

SCHEDULE 4 Chargeable Consideration

(as introduced by section 18(1))

Money or money's worth

1

The chargeable consideration for a transaction is, except as otherwise provided, any consideration in money or money's worth given for the subject-matter of the transaction, directly or indirectly, by the buyer or a person connected with the buyer.

Value added tax

2

The chargeable consideration for a transaction includes any value added tax chargeable in respect of the transaction, other than value added tax chargeable by virtue of an option to tax any land under Part 1 of Schedule 10 to the Value Added Tax Act 1994 (c 23) made after the effective date of the transaction.

Postponed consideration

3

The amount or value of the chargeable consideration for a transaction is to be determined without any discount for postponement of the right to receive it or any part of it.

Just and reasonable apportionment

4

(1)     For the purposes of this Act, consideration attributable—

(a)     to two or more land transactions,

(b)     in part to a land transaction and in part to another matter, or

(c)     in part to matters making it chargeable consideration and

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