# Finance Act 2003, Paragraph 15A

Extent: E+W+S+N.I.

(1) Where a lease is varied so as to reduce the amount of the rent, the variation is treated for the purposes of this Part as an acquisition of a chargeable interest by the lessee.
(1A) Where any consideration in money or money's worth (other than an increase in rent) is given by the lessee for any variation of a lease, other than a variation of the amount of the rent or of the term of the lease, the variation is treated for the purposes of this Part as an acquisition of a chargeable interest by the lessee.
(2) Where a lease is varied so as to reduce the term, the variation is treated for the purposes of this Part as an acquisition of a chargeable interest by the lessor.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/17A/paragraph/15A (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-17A/paragraph-15A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.