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HMRC internal manual

Stamp Duty Land Tax Manual

Miscellaneous Provisions: Linked leases: Successive: Example

A 3-year lease is granted on 1 January 2004 for a rent of £50,000 per annum and includes in its terms the right to renew the lease for the same rent on expiry. On 1 January 2007 a new 3-year lease is granted between the same parties on the same terms. Under FA03/SCH17A/PARA5, these are successive leases and stamp duty land tax is calculated as though the series of leases were one lease: 

  • granted at the time the first lease in the series was granted (1 January 2004)
  • for a term equal to the aggregate of terms of all the leases in the series (6 years), and
  • in consideration of the rent payable under all of the leases in the series (£50,000 per annum).