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HMRC internal manual

Stamp Duty Land Tax Manual

From
HM Revenue & Customs
Updated
, see all updates

Notification: Grant of a lease: Example 1

A 99-year residential lease is granted for a premium of £100,000 and annual rent of £500on 1 July 2005.

Although there is no tax to pay (as the premium and net present value of rent are bothbelow the then residential threshold of £120,000), the lease is:

  • for seven years or more and
  • for chargeable consideration

so is notifiable.

This lease should be notified within 30 days of grant (by 31 July 2005).