Point in time view as at 08/02/2023.
Finance Act 2003, Cross Heading: Increase of rent treated as grant of new lease: variation of lease in first five years is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Textual Amendments
F1Sch. 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))
F2Words in Sch. 17A para. 13 heading inserted (with effect in accordance with Sch. 25 para. 9(4)(6) of the amending Act) by Finance Act 2006 (c. 25), Sch. 25 para. 6(1)
13(1)Where a lease is varied so as to increase the amount of the rent [F3as from a date before the end of the fifth year of the term of the lease], the variation is treated for the purposes of this Part as if it were the grant of a lease in consideration of the additional rent made payable by it.U.K.
(2)Sub-paragraph (1) does not apply to an increase of rent [F4in pursuance of—
(a)a provision contained in the lease, or
(b)a provision mentioned in [F5paragraph (a) or (b)] of paragraph 7(4A).]]
Textual Amendments
F3Words in Sch. 17A para. 13(1) inserted (with effect in accordance with Sch. 25 para. 9(4)(6) of the amending Act) by Finance Act 2006 (c. 25), Sch. 25 para. 6(2)
F4Words in Sch. 17A para. 13(2) substituted (with effect in accordance with Sch. 25 para. 9(1)(6) of the amending Act) by Finance Act 2006 (c. 25), Sch. 25 para. 2(2)
F5Words in Sch. 17A para. 13(2)(b) substituted (with effect in accordance with s. 29(4) of the amending Act) by Scotland Act 2012 (c. 11), s. 44(2)(b)(3)(b), Sch. 3 para. 27(8) (with s. 29(5)(6)); S.I. 2015/637, art. 2
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