Kent Solicitors

Unlike the old stamp duty which was a one-off payment due when a lease was granted, stamp duty land tax is an ongoing tax which may need to be adjusted throughout the term of the lease.

This means that someone taking an assignment of the lease needs to understand thoroughly the SDLT history of the lease to ensure that they do not inherit any unpleasant surprises.

Call Simon Scott on 0797 991 661 to discuss further

Labels: Lease term stamp duty land tax

Historically commercial leases were granted for terms of 20 to 25 years, with 5 yearly rent reviews and with no tenants right to terminate before expiry of the lease term.

SDLT dictates that it is more tax efficient to have a short lease with an option to renew, rather than a long lease with a break clause. Huge savings can be achieved

Labels: Lease term stamp duty land tax