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))
18(1)In the case of the grant, assignment or surrender of a lease a reverse premium does not count as chargeable consideration.U.K.
(2)A “reverse premium” means—
(a)in relation to the grant of a lease, a premium moving from the landlord to the tenant;
(b)in relation to the assignment of a lease, a premium moving from the assignor to the assignee;
(c)in relation to the surrender of a lease, a premium moving from the tenant to the landlord.]