SDLTM49600C | Commencement and transitional provisions

Stamp duty provisions affecting land transactions: Examples

Example 3

An agreement for a lease is entered into on 1 August 2003 and completed by the execution of a lease on 31 January 2004.

The agreement for a lease is subject to stamp duty by virtue of FA99/SCH13/PARA14 because it did not effect a Stamp Duty Land Tax (SDLT) transaction at the time it was entered into.

The executed lease effects a SDLT transaction (with credit given for any ad valorem stamp duty paid on the agreement for lease) and so is not subject to stamp duty.