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SDLT - liability of assignee |
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One point to remember when acting for an assignee of an existing lease is that the client will take on all the liabilities of the assignor, including any adjustment of SDLT at the end of the five years, as well as any SDLT that may become payable on ‘abnormal’ increases of rent. The key point is not to assume that SDLT was properly paid at the time the lease was granted (which was an assumption it was usually safe to make with Stamp Duty). Accordingly, try to get as much information as possible from the assignor as to the SDLT returns that have been made, and the basis on which those returns were compiled.
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January 2009 |
