Section 38A Duty to keep and preserve records: land transactions in respect of which no tax return is required.F1

(1)

This section applies in relation to a land transaction, other than a transaction of a type listed in section 65(4) of LTTA, in respect of which no tax return is required to be made.

(2)

The buyer in a land transaction in relation to which this section applies must—

(a)

keep any records that may be needed to enable the buyer to demonstrate that no tax return is required to be made, and

(b)

preserve any records that may be needed for that purpose.

(3)

The records must be preserved until the end of the relevant date.

(4)

The ““relevant date”” is the sixth anniversary of the effective date of the transaction.

(5)

But if WRA specifies an earlier date under this subsection, the ““relevant date”” is the date specified.

(6)

Different dates may be specified for different purposes under subsection (5).

(7)

In subsection (4), “"effective date”” has the same meaning as in LTTA.

Annotations

Textual amendments

F1: S. 38A inserted (1.4.2018) by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 6; S.I. 2018/34, art. 3

Notes on the whole Act

Textual amendments

F1: Word in Act substituted (19.9.2025) by Visitor Accommodation (Register and Levy) Etc. (Wales) Act 2025 (asc 5), s. 67(1), Sch. 2 para. 21

Notes on Chapter 2

Textual amendments

F1: Word in Pt. 3 Ch. 2 heading omitted (1.4.2018) by virtue of Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 23 para. 4; S.I. 2018/34, art. 3