Part 2 Duration of Lease and Treatment of Overlapping Leases
Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (2017 anaw 1) | Legislation

Part 2 Duration of Lease and Treatment of Overlapping Leases

Lease for a fixed term

2

In applying any provision of this Act to a lease for a fixed term no account is to be taken of—

(a)     any contingency as a result of which the lease may be terminated before the end of the fixed term, or

(b)     any right of either party to terminate the lease or renew it.

Leases that continue after a fixed term

3

(1)     This paragraph applies to—

(a)     a lease granted for a fixed term and thereafter until terminated, or

(b)     a lease granted for a fixed term that may continue beyond the fixed term by operation of law.

(2)     For the purposes of this Act (except section 46 (notifiable transactions: exceptions)) a lease to which this paragraph applies is treated—

(a)     in the first instance as if it were a lease for the original fixed term and no longer;

(b)     if the lease continues after the end of that term, as if it were a lease for a fixed term one year longer than the original fixed term;

(c)     if the lease continues after the end of

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