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HMRC internal manual

Capital Gains Manual

Leases: introduction: definition of `lease'

TCGA92/SCH8/PARA10 (1)

For CGT purposes, the term `lease’ is given an extended meaning by TCGA92/SCH8/PARA10 (1). It includes:

  • sub-leases;
  • tenancies;
  • licences;
  • any interest corresponding to a lease (for land outside the UK).

When examining legal documents, you may also come across the term `demise’. This is another word for a lease. A lease is valid even it is not stamped. Stamping may be done retrospectively at any time.