1207. Meaning of 'lease' for purposes of charge to stamp duty land tax.

For the purposes of stamp duty land tax1, 'lease' means either an interest in or right over land for a term of years (whether fixed or periodic), or a tenancy at will or other interest in or right over land terminable by notice at any time2.

In the application of the stamp duty land tax provisions3 to a lease for a fixed term, no account is taken of any contingency as a result of which the lease may be determined before the end of the fixed term, or of any right of either party to determine the lease or renew