SDLT due on rents
I am about to renew the tenancy of my flat with a couple who have lived in the flat for 8 years. The rent in the new tenancy will, when aggregated with the rents in the earlier tenancies, take the total rent above £125,000. My Agents tell me that the couple will have to pay stamp duty on their rent now. Is this correct? If so, it flies in the face of the governments desire to encourage landlords to permit tenants to stay for long periods.
If the tenancy is renewed by only the husband or wife, would that break the link of tenancies so that SDLT is not payable on renewal?
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