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Anthony John Partner |
Matthew Laing Solicitor |
Richard Llewellyn Consultant |
Annie Hutchinson Executive |
Michelle Petersen Executive |
Stamp Duty Land Tax
Stamp Duty Land Tax was introduced on 1 December 2003 so it is fast approaching its five year anniversary.
Having paid SDLT and made a return for the grant of a lease where the term is at least five years, there are subsequent events that may trigger further SDLT liabilities and returns.
Under the SDLT regime, the rent payable throughout the term of a lease is taken into account in the calculation of SDLT when it is granted. The fifth anniversary of the start of a lease is significant where there will, or may, be changes in the level of rent, in particular, where:
- Rent for the first five years becomes ascertained (where at grant, all or part of the rent for that period was unascertained, contingent or uncertain).
- There are abnormal rent increases occurring after year five
- There are abnormal rent increases occurring after year five
