SCHEDULE 2 Welsh Tax on Land Transactions: Consequential Amendments
Wales Act 2014 (2014 c 29) | Legislation

SCHEDULE 2 Welsh Tax on Land Transactions: Consequential Amendments

Section 16

Finance Act 1931

1

(1)     Section 28 of the Finance Act 1931 (production to Commissioners of instruments transferring land) is amended as follows.

(2)     In subsection (3), at the end of paragraph (c) add “or a Welsh transactionâ€.

(3)     After subsection (3A) insert—

“(3B)     In subsection (3) “Welsh transaction†means the acquisition of—

(a)     an estate, interest, right or power in or over land in Wales, or

(b)     the benefit of an obligation, restriction or condition affecting the value of any such estate, interest, right or power.â€

Finance Act 2003

2

The Finance Act 2003 is amended as follows.

3

(1)     Section 48 (power to prescribe other chargeable interests) is amended as follows.

(2)     After subsection (1) insert—

“(1A)     See section 48A regarding land which is partly in England and partly in Wales.â€

(3)     In subsection (5), omit “and Walesâ€.

4

After section 48 insert—

“Interests, transactions and consideration where land in England

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