§ Mr. FraserTo ask the Chancellor of the Exchequer if he will take steps to arrange for the Inland Revenue not to charge stamp duty on assumed value added tax on rent on leases.
§ Mr. MaudeNo; the stamp duty charge on prospective VAT on rent, under a lease of non-domestic property, reflects legal advice given to the Inland Revenue. Where a landlord agrees in advance not to exercise his option to levy VAT, this stamp duty charge does not arise.