Textual Amendments
F1Pt. VI heading substituted (11.2.2005) by The Stamp Duty Land Tax (Consequential Amendment of Enactments) Regulations 2005 (S.I. 2005/82), art. 1reg. 3(2)
F2Pt. VI heading substituted (30.7.2009) by Finance (No. 2) Act 2005 (c. 22), s. 48(3)(5); S.I. 2009/2094, art. 2
(1)This section applies if there are presented for stamping at the same time in pursuance of Schedule 13 to the Finance Act 1999—
(a)an agreement for a lease, and
(b)the lease which gives effect to the agreement,
and the duty (if any) chargeable on the agreement is paid.
(2)Section 15A of that Act (interest payable on late stamping) applies in relation to the agreement as if the reference to the day on which the instrument was executed were to the day on which the lease was executed.
(3)For the purposes of section 15B of that Act (penalty on late stamping) the agreement is treated—
(a)as if it had been executed at the same time and place as the lease, and
(b)where the lease was executed outside the United Kingdom, as if it had been first received in the United Kingdom at the same time as the lease.
(4)For the purposes of this section a lease gives effect to an agreement if the lease is granted subsequent to the agreement and either is in conformity with the agreement or relates to substantially the same property and term as the agreement.
(5)References in this section to an agreement for a lease include missives of let in Scotland.]]
Textual Amendments
F3Ss. 240, 240A substituted for s. 240 (27.7.1999 with application as mentioned in s. 109(4) of the amending Act) by 1999 c. 16, s. 109(3), 122, Sch. 12 para. 4