LBTT6026 - Assignation of lease treated as grant of a lease

LBTT guidance on the circumstances when the assignation of a lease is treated as the grant of a lease.

Where one of the following tax reliefs was claimed on the grant of a lease:

and the lease is assigned to a different tenant and none of those tax reliefs would apply, then the assignation is treated as the grant of a new lease by the assignor for the remaining term of the lease and on the terms agreed to by the assignee.

This rule does not apply where group relief, reconstruction relief, acquisition relief or charities relief was claimed on the grant of the lease but has been withdrawn prior to the effective date of the assignation.

LBTT(S)A 2013 schedule 19 paragraph 27

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