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HMRC internal manual

Stamp Duty Land Tax Manual

HM Revenue & Customs
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Calculation of stamp duty land tax: Rent: Rent thresholds: Example 3

A lease on a shop is granted for consideration consisting only of rent. The net present value of the rent payable is £135,350.

As the relevant rental value of the lease (£135,350) does not exceed the non-residential threshold of £150,000, the 0% rate of tax applies to the whole consideration and no stamp duty land tax (SDLT) is due on this transaction.

For guidance on the notification requirements for cases where no SDLT is due, see SDLTM18210.