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HMRC internal manual

Stamp Duty Land Tax Manual

HM Revenue & Customs
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Notification: Grant of a lease: Example 6

A residential 25-year lease is granted for rent of one peppercorn per annum.

Although the lease is for more than 7 years, there is no chargeable consideration(although a peppercorn is consideration, it is not considered chargeable consideration forthe purposes of stamp duty land tax – refer to SDLTM11010).

Notification is therefore not required.