1220. Where chargeable consideration includes rent.

Where the chargeable consideration1 for a chargeable transaction2 consists of or includes rent3, or where such a transaction is to be taken into account as a linked transaction4, tax is chargeable in respect of so much of the chargeable consideration as consists of rent5. The tax so chargeable is the total of the amounts produced by taking the relevant percentage of so much of the relevant rental value6 as falls within each rate band7.

The relevant percentages and rate bands are determined by reference to whether the relevant land8 consists entirely of residential property (to which Table A applies)9 or