Overlap relief to the rescue

In the second instalment of his two-part look at stamp duty land tax, Bill Chandler answers a question on SDLT and overlap relief Question I have a 15-year lease of commercial premises. Will I have to pay full stamp duty land tax (SDLT) on the new lease, even though I have already paid on the existi...

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Bibliographic Details
Published in:The Estates Gazette 2019-10, p.113-113
Main Author: Chandler, Bill
Format: Magazinearticle
Language:English
Subjects:
Net present value
Property taxes
Stamp duties
Online Access:Get full text
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Summary:In the second instalment of his two-part look at stamp duty land tax, Bill Chandler answers a question on SDLT and overlap relief Question I have a 15-year lease of commercial premises. Will I have to pay full stamp duty land tax (SDLT) on the new lease, even though I have already paid on the existing lease? Rents already taxed under the existing lease can be deducted when calculating the net present value (NPV) of the new lease, leaving you to pay tax just on the additional rent payable under the new lease.
ISSN:0014-1240
2059-5123