246. Treatment of rent for purposes of VAT and stamp duty land tax.

Where the grant of a lease constitutes a taxable supply liable to VAT at the standard rate, the rent is liable to VAT as constituting the value of the taxable supply made by the landlord to the tenant1.

For the purposes of stamp duty land tax, where the chargeable consideration for a transaction consists of rent, particular statutory provision is made for determining the amount of rent payable under a lease where that amount varies in accordance with provision in the lease, or is contingent, uncertain or unascertained