Stamp Duty on Commercial Property Leases
Do I Have to Pay Stamp Duty on a Commercial Property Lease?
Many commercial tenants are unaware of the fact that Stamp Duty Land Tax (SDLT) can be payable on the grant, assignment, variation or surrender of a commercial lease, where the total value of the transaction is above certain thresholds. The rules regarding payment of SDLT are complex, and while the tax is not payable on all commercial leases, it is important to note that failure to pay on time, for whatever reason, can result in liability for the overdue payment with accrued interest, in addition to a fine. On the other side of the coin, if a company or individual overpays their SDLT, it is not easy to obtain a refund from HMRC, so in both cases it is important to get the calculation right first time round.
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