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HMRC internal manual

Stamp Duty Land Tax Manual

HM Revenue & Customs
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Variation of leases: Reducing the rent payable

Where a lease is varied so that the rent is reduced, the variation is treated under FA03/SCH17A/PARA15A(1) as the acquisition of a chargeable interest by the tenant.

As the tenant already has a major interest (the lease), a land transaction return is only required if the variation is for chargeable consideration exceeding the relevant threshold.

The effective date of a variation to reduce the rent is the date the relevant minute of variation is executed.