Introduction: definitions: notional leases
Various parts of the legislation treat an event as if a lease has been granted for the purposes of stamp duty land tax. In deciding whether this notional lease is for a fixed or indefinite term, the considerations discussed at SDLTM14015 and SDLTM14045 should be taken into account, bearing in mind that no actual lease has been granted.
Notional leases are treated as granted under:
FA03/SCH17A/PARA5 - Successive linked leases (refer to SDLTM17035)
FA03/SCH17A/PARA11 - Assignments treated as new leases (refer to SDLTM17060)
FA03/SCH17A/PARA12A - Substantial performance of agreements for lease (refer to SDLTM10040).
FA03/SCH17A/PARA13 - Variation of leases so as to increase rent (refer to SDLTM15010)
FA03/SCH17A/PARA19 - Provisions relating to leases in Scotland