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HMRC internal manual

Stamp Duty Land Tax Manual

Calculation of Stamp Duty Land Tax (SDLT): Rent: Variable or uncertain rent: Example 1

A lease is granted on 1 January 2018 for five years at a rent of £150,000 per annum rising to £175,000 on 1 January 2020

The rent payable for each of the five years is to be taken into account in computing the net present value is as follows

Year 1 £150,000
Year 2 £150,000
Year 3 £175,000
Year 4 £175,000
Year 5 £175,000

There is no need to revisit the calculation as the actual rent payable in each of the first five years is known from the outset.