Q&As

Where an individual is having a contract to purchase a lease assigned to them by the original purchaser, and the deed of assignment is for a higher price than the original purchase price, will they pay stamp duty land tax on the original purchase price or the higher price in the deed of assignment?

read titleRead full title
Produced in partnership with Sean Randall of Blick Rothenberg
Published on LexisPSL on 10/01/2019

The following Tax Q&A produced in partnership with Sean Randall of Blick Rothenberg provides comprehensive and up to date legal information covering:

  • Where an individual is having a contract to purchase a lease assigned to them by the original purchaser, and the deed of assignment is for a higher price than the original purchase price, will they pay stamp duty land tax on the original purchase price or the higher price in the deed of assignment?

Where an individual is having a contract to purchase a lease assigned to them by the original purchaser, and the deed of assignment is for a higher price than the original purchase price, will they pay stamp duty land tax on the original purchase price or the higher price in the deed of assignment?

The Q&A asks what amount of stamp duty land tax (SDLT) is payable on the acquisition of a new lease where the acquisition is in pursuance of an agreement for lease that was assigned to the purchaser. Schedule 2A to the Finance Act 2003 (FA 2003) (transactions entered into before completion of contract) provides the answer. Specifically, FA 2003, Sch 2A, para 4 (assignments of rights: application of rules about completion and consideration) confirms that

Related documents:

Popular documents