Q&As

What is the effective date of a lease for SDLT purposes where the tenant is carrying out works, but the site is still controlled by the landlord and the tenant has to return the keys at the end of each day?

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Published on LexisPSL on 29/06/2017

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  • What is the effective date of a lease for SDLT purposes where the tenant is carrying out works, but the site is still controlled by the landlord and the tenant has to return the keys at the end of each day?

What is the effective date of a lease for SDLT purposes where the tenant is carrying out works, but the site is still controlled by the landlord and the tenant has to return the keys at the end of each day?

The effective date for most land transactions will be the date of completion (note completion is not defined in the SDLT legislation although HMRC guidance states that completion means the completion of the land transaction proposed by the contract between the same parties in substantial conformity with the contract). A person is not regarded as entering into a land transaction by reason of entering into a contract to acquire UK land. However, there are special SDLT rules which apply where a contract for a land transaction in entered into. In particular, the effective date will not be the date of completion if the transaction is 'substantially performed' prior to the date of completion, in which case the earlier date will be the effective date. sections 44

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