Textual Amendments
F1Sch. 17A inserted (1.12.2003) by The Stamp Duty and Stamp Duty Land Tax (Variation of the Finance Act 2003) (No. 2) Regulations 2003 (S.I. 2003/2816), reg. 1, Sch. para. 8(2)
10(1)In the case of the grant of a lease none of the following counts as chargeable consideration—U.K.
(a)any undertaking by the tenant to repair, maintain or insure the demised premises (in Scotland, the leased premises);
(b)any undertaking by the tenant to pay any amount in respect of services, repairs, maintenance or insurance or the landlord’s costs of management;
(c)any other obligation undertaken by the tenant that is not such as to affect the rent that a tenant would be prepared to pay in the open market;
(d)any guarantee of the payment of rent or the performance of any other obligation of the tenant under the lease;
(e)any penal rent, or increased rent in the nature of a penal rent, payable in respect of the breach of any obligation of the tenant under the lease.
(2)Where sub-paragraph (1) applies in relation to an obligation, a payment made in discharge of the obligation does not count as chargeable consideration.
(3)The release of any such obligation as is mentioned in sub-paragraph (1) does not count as chargeable consideration in relation to the surrender of the lease.]