{
  "url": "https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017/schedule-5/paragraph-20",
  "json_url": "https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017/schedule-5/paragraph-20.json",
  "legislation": "anaw/2017/1",
  "legislation_title": "Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017",
  "legislation_url": "https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017",
  "path": "schedule/5/paragraph/20",
  "kind": "paragraph",
  "number": "20",
  "heading": null,
  "text": "(1) A chargeable transaction is a higher rates residential property transaction if—\n(a) the buyer is not an individual,\n(b) the main subject-matter of the transaction consists of a major interest in a dwelling (““the purchased dwelling””), and\n(c) the chargeable consideration for the dwelling is £40,000 or more.\n(1A) Sub-paragraph (1) applies subject to the exceptions in—\n(a) sub-paragraph (2), and\n(b) paragraph 20A (subsequent disposal to local authorities exception).\n(2) ... A transaction is not a higher rates residential property transaction under sub-paragraph (1) if at the end of the day that is the effective date of the transaction—\n(a) the purchased dwelling is subject to a lease,\n(b) the main subject-matter of the transaction is reversionary on that lease, and\n(c) the lease meets the conditions set out in sub-paragraph (3).\n(3) The conditions are that—\n(a) the lease is not held by a person connected with the buyer, and\n(b) the lease has an unexpired term of more than 21 years.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 5 para. 20(1A) inserted (13.2.2026) by The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendments to Schedule 5) Regulations 2026 (W.S.I. 2026/42), regs. 1(2), 4(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Word in Sch. 5 para. 20(2) omitted (13.2.2026) by virtue of The Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (Amendments to Schedule 5) Regulations 2026 (W.S.I. 2026/42), regs. 1(2), 4(2)(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 5 applied (with modifications) (1.4.2018) by The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018 (S.I. 2018/126), regs. 1(2), 12"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 5 para. 20 in force at 1.4.2018 by S.I. 2018/34, art. 3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/anaw/2017/1/schedule/5/paragraph/20",
    "retrieved_at": "2026-10-29T20:18:12.749395+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}