All leases for an indefinite term are treated initially for
the purposes of stamp duty land tax (SDLT) as being for a fixed
term of one year, under the provisions of FA03/SCH17A/PARA4(1)(a).
This is regardless of any other statutory provision treating the
lease as being for any other term.
Therefore notification of such a lease will only be required
initially if there is SDLT to pay on either or both of the rent and
other consideration – for details refer to
SDLTM12010. Where a lease for an
indefinite term continues beyond the initial notional one-year
term, refer to
SDLTM14070 for the SDLT treatment.
