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SDLT Payments for Commercial Leases

  A lease is an interest in land and therefore Stamp Duty Land Tax (SDLT) is payable. For all leases of seven years or more (with a chargeable consideration over £40,000 or, rent over £1,000), SDLT must be paid, and it is the responsibility of the tenant to make...

Ways to get out of a Commercial Lease

If you, as the tenant, need to get out of a commercial lease, what are the options available to you? Expiration of the term Provided that the Landlord and Tenant Act (the Act) has been contracted out of when the lease was created, your lease will come to an end when...

Relief from Forfeiture on Commercial Leases

A forfeiture clause provides a landlord with the right to re-enter the property if rent has not been paid a certain number of days after it is due. For commercial leases, the introduction of S.82(1) of the Coronavirus Act 2020 (‘CVA 2020’) meant landlords could not...

Are Heads of Terms Legally Binding?

The heads of terms are a prevalent part of commercial property leasing. This document is the result of negotiations between parties and the culmination of the key points and terms that will go into a lease. But despite the amount of negotiating that goes into the...