Q. Will I have to pay stamp duty land tax on a property I am about to inherit?
A. Stamp duty land tax (SDLT) is generally payable on land transactions. There is a land transaction when land passes to a beneficiary under a will, or by virtue of the law on intestacy. However, the legislation governing SDLT (Finance Act 2003, Schedule 3, para. 3A) provides that the acquisition of property by a person:
– in or towards satisfaction of his entitlement under or in relation to the will of a deceased…
Read More