# The Land Transaction Tax (Transitional Provisions) (Wales) Regulations 2018, Regulation 12: Higher rates residential property transactions – replacement of main residence exception

Extent: E+W

(1) This regulation applies to a transaction the effective date of which is, or is earlier than, 26 November 2018.
(2) For the purpose of determining whether such a transaction is a higher rates residential property transaction, Schedule 5 to the LTT Act applies with the following modifications—
(a) paragraph 8(2)(b) has effect as if for “during the period of 3 years ending with” there were substituted “ the same as or earlier than ”;
(b) paragraph 8(2)(d) has effect as if for “during the period of 3 years referred to in paragraph (b)” there were substituted “ before the effective date of the transaction concerned ”;
(c) paragraph 17(2)(b) has effect as if for “during the period of 3 years ending with” there were substituted “ the same as or earlier than ”; and
(d) paragraph 17(2)(d) has effect as if for “during the period of 3 years referred to in paragraph (b)” there were substituted “ before the effective date of the transaction concerned ”.

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Source: https://www.legislation.gov.uk/wsi/2018/126/regulation/12 (the official version)
Page: https://openlegislation.uk/land-transaction-tax-transitional-provisions-wales-regulations-2018/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.