Stamp Duty Land Tax - Time to Act
The Stamp Duty Land Tax (SDLT) rules relating to leases are particularly complex and amongst those rules are some which will only apply once a lease becomes five years old. With SDLT celebrating its fifth birthday on 1 December 2008 some of these rules will soon start to bite and it is worth reviewing the occasions on which you may need to re-notify HM Revenue & Customs of your lease, or even pay additional SDLT. Failure to do so will result in significant interest and penalty charges arising. These rules apply not only to the original tenant, but also to a tenant who acquired an SDLT lease from a previous tenant.
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