Daniel Kennedy of Nabarro LLP explores the introduction of the new SDLT charge on abnormal increases in rent and discovers there are some major issues facing tenants (not to mention HMRC)
1 December 2008 marked the fifth anniversary of the introduction of stamp duty land tax (SDLT). It also marked the first date on which the rules in respect of 'abnormal rent increases' can apply to impose an SDLT charge on a tenant where the rent payable under its lease increases by what legislation deems to be an 'abnormal' amount.
Background — SDLT on rent
When a lease is granted a tenant must pay SDLT on any premium paid for the lease and also on the...
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Daniel Kennedy of Nabarro LLP explores the introduction of the new SDLT charge on abnormal increases in rent and discovers there are some major issues facing tenants (not to mention HMRC)
1 December 2008 marked the fifth anniversary of the introduction of stamp duty land tax (SDLT). It also marked the first date on which the rules in respect of 'abnormal rent increases' can apply to impose an SDLT charge on a tenant where the rent payable under its lease increases by what legislation deems to be an 'abnormal' amount.
Background — SDLT on rent
When a lease is granted a tenant must pay SDLT on any premium paid for the lease and also on the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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