SCHEDULE 5 Stamp Duty Land Tax: Amount of Tax Chargeable: Rent
Finance Act 2003 (2003 c 14) | Legislation

SCHEDULE 5 Stamp Duty Land Tax: Amount of Tax Chargeable: Rent

Section 56

Introduction

1

This Schedule provides for calculating the tax chargeable—

(a)     in respect of a chargeable transaction for which the chargeable consideration consists of or includes rent, or

(b)     where such a transaction is to be taken into account as a linked transaction.

[Amounts payable in respect of periods before grant of lease

1A

For the purposes of this Part “rent†does not include any chargeable consideration for the grant of a lease that is payable in respect of a period before the grant of the lease.]

Calculation of tax chargeable in respect of rent

2

(1)     Tax is chargeable under this Schedule in respect of so much of the chargeable consideration as consists of rent.

[(2)     The tax chargeable is the total of the amounts produced by taking the relevant percentage of so much of the relevant rental value as falls within each rate band.

(3)

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