The Welsh government has published the draft Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 which (assuming they are approved) will formally set out the relief from land transaction tax for qualifying transactions of land in designated special tax sites in Wales. The Celtic Freeport special tax sites are the first such sites in Wales to have been formally designated (by SI 2024/1035). Those sites are designated from 26 November 2024 and the draft regulations are also expected to have effect from that date. Mark Drakeford current Cabinet Secretary for Finance and Welsh Language (and former First Minister) has issued an accompanying explanatory memorandum.
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The Welsh government has published the draft Land Transaction Tax (Relief for Special Tax Sites) (Wales) Regulations 2024 which (assuming they are approved) will formally set out the relief from land transaction tax for qualifying transactions of land in designated special tax sites in Wales. The Celtic Freeport special tax sites are the first such sites in Wales to have been formally designated (by SI 2024/1035). Those sites are designated from 26 November 2024 and the draft regulations are also expected to have effect from that date. Mark Drakeford current Cabinet Secretary for Finance and Welsh Language (and former First Minister) has issued an accompanying explanatory memorandum.
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