SDLT implications on inherited home

[Atlantic D]

I own my house and am selling it.

My Mother has passed away and her estate (including her house) is left in her will to myself and 3 siblings in a trust. Only my eldest sister and I are executors and the two surviving beneficiaries of the trust (mum and dad were the other two - now both deceased). Their wishes were for the estate to be divided equally between all four siblings.

We have been granted probate for both mum & dad and are considering selling their house now.

If I were to buy it , with the proceeds of my own house sale (or have it transferred to me) paying out my other three siblings what would be the SDLT implications (if any) for me?

We were advised not to do the assent if selling straight away.

The estate is below any inheritance tax liability.

[Sam101]

You have not mentioned the value. The scale of stamp duty is ?

• Up to £125,000, stamp duty is zero
• £125,001 to £250,000, stamp duty is 2%
• £250,001 to £925,000, stamp duty is 5%

If you sold the property and split the value no stamp duty exists. Obtaining the correct value to decide how much to pay the others can be difficult as property values have increased greatly in recent years and buyers are many.