LBTT6022 - Treatment of successive linked leases

LBTT guidance on the rules regarding successive linked leases.

Successive leases of the same premises between the same parties (and which are otherwise linked transactions) are treated as one lease for the purposes of LBTT. Successive linked leases are treated as being granted at the time of the grant of the first lease in the series, for a term equal to the aggregate of the terms of all the leases and in consideration of the rent payable under all the leases.

LBTT(S)A 2013 schedule 19 paragraph 23

Where, as the result of the grant of a later linked lease, the transaction becomes notifiable, or additional tax is payable in respect of the earlier transaction, or tax is payable in respect of the earlier transaction where none was payable before, the tenant must make an LBTT return to us within 30 days of the day after the effective date of the later transaction. The return must include an assessment of the amount of tax chargeable as a result of the later transaction, using the tax rates and bands that were in force at the effective date of the earlier transaction.

LBTT(S)A 2013 section 34

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