You must again enter into and register a new lease. Registration is mandatory. Nowadays, you no longer need to personally go to the population registration office, documents can be registered from home. You and your tenant can in principle decide between themselves the terms of the rental agreement, unless these are contrary to the landlord and tenant regulation (consolidation regulation). Please see examples 1 to 3 below to calculate stamp duty for leases on a tiered lease or a percentage of GTO. If your property is still under mortgage, you should obtain the prior agreement of the mortgage borrower for the rental of the property. Otherwise, you risk contravening your mortgage contract and your borrower could repossess the property. Stamp duty must be paid on the consideration or market value of the estate interest transferred, whichever is greater, at BSD rates. Instead of renewing the agreement, you can therefore enter into a new agreement to avoid registration. If the agreement includes a deposit, add more Rs100 and Rs1,100 as a registration fee – bringing the total cost to Rs6,240. This does not apply to fees due to lawyers or other intermediaries for all paperwork. As you continue with 5 steps from the page, the first page is displayed, as the rental agreement data does not need to be saved for up to 11 months. Execute a renewed contract with the same conditions + rent review and have it certified notarized.
No stamp duty to pay. Make a new agreement and notorize it. If the rent has increased by the rent payable after the old stamp duty rental, its tax treatment depends on the reason for the increase. If the increase was agreed to obtain the granting of the new lease, the increase itself will be taxed as a bonus in return for the new lease, and the rest of the rent to be paid for the operation over the period is out of the stamp duty charge. In the absence of such an agreement, the increase is considered to relate to the old lease and constitutes a modification of the lease grant with respect to the increased rent under FA03/SCH17A/PARA13 (see SDLTM15010). stamp duty on leave and license agreement would be 2 per cent of annual rent A new agreement must be concluded and notarized. The notary will do the same. A rental agreement must be stamped within 30 days of performance. You can affix a rental agreement on the Internet, by mail or in person at the stamp office of the tax office. Landlords and tenants are subject to stamp tax. Subject to individual agreement, the payment of stamp duty is generally divided between the lessor and the tenant. Via the website (Internet): you can visit the website www.gov.hk and provide the necessary details.
The last step in the process is the payment of stamp duty. 2) There is no harm in giving a 15-day gap in the new agreement An 11-month leave and license agreement can be prepared on the Rs 100 stamp paper and you can have it certified notarized. Do not extend the old agreement. The general rule for SDLT purposes is that the term of a lease agreement begins from the date it is granted (see SDLTM14015). Fixed-term leases are the exception of renewal leases. FA03/SCH17A/PARA9A does not apply the general rule for leases: most leases are signed for a period of 11 months in order to avoid stamp duty and other fees For 11 months of contract, registration and payment of stamp duty is not mandatory. Q I understand that stamp tax (SDLT) liability settles for tenants if their cumulative rent exceeds £125,000. .
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