# Finance Act 2003, Paragraph 18


(1) In the case of the grant, assignment or surrender of a lease a reverse premium does not count as chargeable consideration.
(2) A “reverse premium” means—
(a) in relation to the grant of a lease, a premium moving from the landlord to the tenant;
(b) in relation to the assignment of a lease, a premium moving from the assignor to the assignee;
(c) in relation to the surrender of a lease, a premium moving from the tenant to the landlord.

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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/17A/paragraph/18 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-17A/paragraph-18
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.