Surrender Agreement Stamp Duty

Instead of executing a lease (signing, sealing, or both), you can execute a lease. A lease sets out the terms that would be contained in a lease agreement. The document must relate to the property transferred. In the event of an increase in rent or an extension of the rental period, stamp duty must be paid on the document on the basis of the increase in rent or rent for the extended rental period. It is also useful to know that VAT may or may not be paid in the event of a remission or reverse remittance, depending on whether the beneficiary of the payment has exercised the "taxation option" and must pay stamp duty (SDLT) if the lessor pays more than £150,000 to the tenant. . . .

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