SCHEDULES
F1SCHEDULE 17AFurther provisions relating to leases
Annotations:
Amendments (Textual)
Assignment of lease: assumption of obligations by assignee
17
In the case of an assignment of a lease the assumption by the assignee of the obligation—
a
to pay rent, or
b
to perform or observe any other undertaking of the tenant under the lease,
does not count as chargeable consideration for the assignment.
Sch. 17A inserted (with effect in accordance with Sch. 39 para. 26 of the amending Act) by Finance Act 2004 (c. 12), Sch. 39 para. 22(2) (which amending provision re-enacts, subject to certain changes, a corresponding amendment made by the now revoked Stamp Duty and Stamp Duty Land Tax (Variation of the Finance Act 2003) (No. 2) Regulations 2003 (S.I. 2003/2816), see Sch. 39 para. 14) (with Sch. 39 paras. 11, 13(5))