SCHEDULE 6 Leases | Part 3 | Rent And Other Consideration | Land Transaction Tax And Anti Avoidance Of Devolved Taxes Wales Act 2017 Anaw1

Part 3 Rent and other Consideration

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

Part 3 Rent and other Consideration

Rent

(1) For the purposes of this Act, a single sum expressed to be payable in respect of rent and other matters but not apportioned is to be treated as entirely rent.

(2) Sub-paragraph (1) is without prejudice to the application of paragraph 4 of Schedule 4 (chargeable consideration: just and reasonable apportionment) where separate sums are expressed to be payable in respect of rent and other matters.

(3) For the purposes of this Act, “rent” does not include any chargeable consideration for the grant of a lease that is payable in respect of a period before the grant of the lease.

Variable or uncertain rent

(1) This paragraph applies where the amount of rent payable under a lease—

(a) varies in accordance with provision in the lease, or

(b) is contingent, uncertain or unascertained.

(2) As regards rent payable in respect of any period before the end of the fifth year of the term of the lease—

(a) this Act applies as in relation to other chargeable consideration, and

(b) accordingly sections 19 and 20 apply if the amount is contingent, uncertain or unascertained.

(3)