
1 

(1) The title of these Regulations is the Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2025.
(2) These Regulations come into force on 7 February 2025.
2 
Words and expressions used in these Regulations have the same meaning as they have in the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017.
3 
In Schedule 13 to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017, after paragraph 7 insert—“
7A. 

(1) Sub-paragraph (3) applies in relation to a chargeable transaction—
(a) where—
(i) the buyer is an individual, and
(ii) the main subject-matter of the transaction consists of a major interest in two or more dwellings (“purchased dwellings”),
(b) where only one of the purchased dwellings is a qualifying dwelling, and
(c) to which paragraph 15 of Schedule 5 does not apply.
(2) But sub-paragraph (3) does not apply in relation to a chargeable transaction that—
(a) is within sub-paragraph (1), and
(b) to which paragraph 18 of Schedule 5 applies (intermediate transaction treated as a higher rates residential property transaction).
(3) For the purposes of this Schedule, the interests in the qualifying dwelling mentioned in sub-paragraph (1)(b) and a purchased dwelling (or more than one) that is subsidiary to it are treated as if they were an interest in a single dwelling.
(4) For the purposes of this paragraph, a purchased dwelling (“dwelling A”) is subsidiary to a qualifying dwelling (“dwelling B”) if dwelling A would be subsidiary to dwelling B for the purposes of Schedule 5 (see paragraph 14 of that Schedule).
(5) In this paragraph, “qualifying dwelling” means a dwelling that is a qualifying dwelling for the purposes of Part 3 of Schedule 5 (see paragraph 13 of that Schedule).”
4 

(1) The amendments made by these Regulations have effect in relation to a land transaction with an effective date on or after 7 February 2025.
(2) But the amendments made by these Regulations do not have effect in relation to a land transaction if—
(a) the transaction is effected in pursuance of a contract entered into and substantially performed before 7 February 2025, or
(b) the transaction is effected in pursuance of a contract entered into before 7 February 2025 and is not excluded by paragraph (3).
(3) A land transaction is excluded if—
(a) there is any variation of the contract, or assignment of rights under the contract, on or after 7 February 2025,
(b) the transaction is effected in consequence of the exercise on or after 7 February 2025 of any option, right of pre-emption or similar right, or
(c) on or after 7 February 2025 there is an assignment, subsale or other transaction relating to the whole or part of the subject-matter of the contract as a result of which a person other than the buyer under the contract becomes entitled to call for a transfer.
(4) If—
(a) a post-commencement land transaction is linked to a pre-commencement land transaction, and
(b) the pre-commencement land transaction is a relevant transaction for the purposes of paragraph 3 of Schedule 13 to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017,
the amendments made by these Regulations do not have effect in relation to the post-commencement land transaction.
(5) In paragraph (4)—
(a) “pre-commencement land transaction” means a land transaction the effective date of which is before 7 February 2025 or which meets the conditions in paragraph (2)(a) or (2)(b);
(b) “post-commencement land transaction” means all other land transactions.
Mark Drakeford
Cabinet Secretary for Finance and Welsh Language, one of the Welsh Ministers
5 February 2025