The Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2026

• Citation: S.I. 2026/40 (W.)
• Sections: 3

Section 1 Title, coming into force and interpretation

(1) The title of these Regulations is the Land Transaction Tax (Modification of Relief for Acquisitions Involving Multiple Dwellings) (Wales) Regulations 2026.

(2) These Regulations come into force on 13 February 2026.

(3) 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.

Section 2 Modification of minimum amount payable where relief for acquisitions involving multiple dwellings is claimed

In paragraph 6 of Schedule 13 to the Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (determining the tax related to the consideration attributable to dwellings), in sub-paragraph (2) for “1%” , in both places it occurs, substitute “3%” .

Section 3 Transitional provisions

(1) The amendments made by these Regulations have effect in relation to a land transaction with an effective date on or after 13 February 2026.

(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 13 February 2026, or

(b) the transaction is effected in pursuance of a contract entered into before 13 February 2026 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 13 February 2026,

(b) the transaction is effected in consequence of the exercise on or after 13 February 2026 of any option, right of pre-emption or similar right, or

(c) on or after 13 February 2026 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 13 February 2026 or which meets the conditions in paragraph (2)(a) or (2)(b);

(b) “ post-commencement land transaction ” means all other land transactions.