SCHEDULES

SCHEDULE 39Stamp duty land tax and stamp duty

Part 1Amendments to Part 4 of the Finance Act 2003: general

Variation of lease

2

In section 43 (land transactions)—

(a)

in paragraph (c) of subsection (3) (variation of chargeable interest), after “interest” insert “ (other than a lease) ”;

(b)

after that paragraph insert—

“(d)

the variation of a lease is an acquisition and disposal of a chargeable interest only where it takes effect, or is treated for the purposes of this Part, as the grant of a new lease.”.