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HMRC internal manual

Stamp Duty Land Tax Manual

Variation of leases: Reducing the term

Where a lease is varied so as to reduce the term, this is treated as the acquisition of a chargeable interest by the landlord, under FA03/SCH17A/PARA15A(2).

This is the acquisition of a major interest since the lessee is relinquishing part of his major interest (the lease). If the landlord gives chargeable consideration to the tenant, a land transaction return will be required.