SCHEDULES
SCHEDULE 4Stamp duty land tax: chargeable consideration
Surrender of existing lease in return for new lease
14
1
This paragraph applies where a lease is granted in consideration of the surrender of an existing lease—
a
of the same or substantially the same premises,
b
of which the unexpired term is substantially the same as the term of the new lease, and
c
on the same or substantially the same terms.
2
Where this paragraph applies—
a
the grant of the new lease does not count as chargeable consideration for the surrender, and
b
the surrender does not count as chargeable consideration for the grant of the new lease.