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HMRC internal manual

Stamp Duty Land Tax Manual

Notification: Grant of a lease: Example 7

A residential 20-year lease is granted for rent of 1p per annum.

Although the lease is for more than 7 years, there is no chargeable consideration (consideration of less than £1 per annum is not considered chargeable consideration for the purposes of stamp duty land tax - see SDLTM18010).

Notification is therefore not required.