Subject to certain exceptions1, the grant of any interest in or right over land2 or of any licence to occupy3 land is an exempt supply for the purposes of VAT4. A 'grant' includes an assignment or surrender and the supply made by the person to whom an interest is surrendered when there is a reverse surrender5. The supply made by a landlord in accepting the surrender of his tenant's lease in return for a payment made by the tenant is also normally exempt6.
For the purposes of stamp duty land tax
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