Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Assignment definition

What does Assignment mean? In legal practice, an assignment is the transfer of an existing right (for example a debt, contractual right, receivable or intellectual property) from the assignor to the assignee. It may arise by agreement or by operation of law (such as insolvency or succession). The concept is descriptive and applied across contexts; in England and Wales it is framed by case law and statute. In England and Wales, a legal assignment of a debt or other legal chose in action requires compliance with section 136 Law of Property Act 1925 (typically: in writing, absolute and of the whole, with notice to the...

Direct tax on lease assignments, surrenders and variations: CGT and income treatment of premiums, reverse premiums and other payments for landlords and tenants; short lease premium rules and reliefs

Published by a LexisNexis Tax expert

Practice notes

Direct tax treatment of leases—other transactions

For the direct tax analysis of landlords and tenants on the grant of leases, see Practice Note: Direct tax treatment of leases—grant of a lease. This Practice Note addresses the direct tax position of landlords and tenants for other dealings concerning leases, chiefly assignments, surrenders and Variations of existing leases. The VAT and stamp duty land tax (SDLT) consequences of these transactions are also crucial in determining the parties’ overall tax position; see the following Practice Notes:

VAT issues for new and ongoing leases
VAT issues for lease assignments and terminations
SDLT chargeable consideration—leases
SDLT—common lease transactions

Consistent with the approach to lease grants, the tax treatment of transactions affecting existing leases depends on a range of factors, including the parties’ tax status, the term of the lease and the purpose for which the transaction is undertaken. The legal mechanics of property transactions, and particularly those involving leases, differ in certain respects across the separate jurisdictions within the UK. This Practice Note is prepared by reference to English property law...

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Charles Goddard

Rosetta Tax

Charles is a solicitor at Rosetta Tax Limited, which specialises in corporate tax advice to businesses and professional services firms. He has a broad range of tax advisory expertise, having acted for a variety of UK-based and international financial institutions and listed companies. He has particular expertise in the real estate and finance sectors, with a strong focus on the taxation of insolvency and restructuring transactions.Charles was for six years until 2012 a tax partner at Berwin Leighton Paisner LLP. Prior to joining BLP, he spent eight years at Slaughter and May as a trainee and associate in their Tax group. He is recommended by both Chambers and Partners and Legal 500....

Web page updated on 21/05/2026

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Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

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