Point in time view as at 08/02/2023.
Finance Act 2003, Cross Heading: Treatment of successive linked leases 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))
5(1)This paragraph applies where—U.K.
(a)successive leases are granted or treated as granted (whether at the same time or at different times) of the same or substantially the same premises, and
(b)those grants are linked transactions.
(2)This Part applies as if the series of leases were a single lease—
(a)granted at the time of the grant of the first lease in the series,
(b)for a term equal to the aggregate of the terms of all the leases, and
(c)in consideration of the rent payable under all of the leases.
(3)The grant of later leases in the series is accordingly disregarded for the purposes of this Part except section 81A (return or further return in consequence of later linked transaction).]
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