LBTT6026 - Assignation of lease treated as grant of a lease

Where one of the following tax reliefs was claimed on the grant of a lease:

• sale and leaseback relief – see LBTT3011;
• relief for alternative finance investment bonds – see LBTT3021;
• group relief – see LBTT3025;
• reconstruction relief or acquisition relief  – see LBTT3029;
• charities relief – see LBTT3035; or
• public bodies relief – see LBTT3040,

and the lease is assigned to a different tenant and none of those tax reliefs would apply, then the assignation is treated as the grant of a new lease by the assignor for the remaining term of the lease and on the terms agreed to by the assignee.

This rule does not apply where group relief, reconstruction relief, acquisition relief or charities relief was claimed on the grant of the lease but has been withdrawn prior to the effective date of the assignation.

LBTT(S)A 2013 schedule 19 paragraph 27