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