SCHEDULES
SCHEDULE 5U.K.Stamp duty land tax: amount of tax chargeable: rent
Yn ddilys o 10/07/2003
Net present value of rent payable over term of leaseU.K.
3U.K.The net present value (v) of the rent payable over the term of a lease is calculated by applying the formula:
where—
ri is the rent payable (see paragraphs 4 and 5) in year i,
i is the first, second, third, etc year of the term,
n is the term of the lease (see paragraphs 6 and 7), and
T is the temporal discount rate (see paragraph 8).