# Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, Paragraph 37


For the purposes of this Schedule, any term of years absolute or leasehold estate is not a ““major interest”” if its term does not exceed 7 years on the date of its grant.

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Source: https://www.legislation.gov.uk/anaw/2017/1/schedule/5/paragraph/37 (the official version)
Page: https://openlegislation.uk/land-transaction-tax-and-anti-avoidance-of-devolved-taxes-wales-act-2017/schedule-5/paragraph-37
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.