Inheritance without full rights and SDLT

[stefanoc]

Hello,
I am in the process of purchasing a flat and I am looking at Stamp Duty cost. I am Italian but I've been living and working in the UK for more than 4 years.
More than 3 years ago, one of my parents died and, according to Italian law, I inherited 1/6 of my parents house: 1/3 of my parent's half. The law gives the surviving parent the right to live in the house ("diritto di abitazione del coniuge superstite"). Considering that I don't have full ownership of my 1/6 of the house (for example I can't sell it), would this count as "Interest owned by an individual" ? Do I need to pay the higher tax rate for Stamp Duty?
The Italian law considers this an exception thus if I had to purchase an house in Italy, it would be considered "first house" with all the tax benefits derived.
Thank you very much for your help!

Best Regards,
Stefano

[stefanoc]

A further clarification: I think my current situation is taken in consideration in 3.13A at page 10 of the document Higher rates for SDLT (https://www.gov.uk/government/uploads/s ... erties.pdf)

Where an individual is one of the legal owners of another dwelling (their name is
on the title at the Land Registry) but they have absolutely no beneficial interest in
that other dwelling, they will not own an interest in that other dwelling that meets
Condition C. This would have to be evidenced in writing. Any entitlement to
capital proceeds from the sale of the property, to income or to occupy the property
would be likely mean that they do have a beneficial interest.

In my base I am one of the legal owners but I don't have beneficial interest on the actual property.

Thanks,
Stefano

[maths]

I cannot comment on any Italian law aspects but comparing what you have described to what would be the case here in the UK you would seem to have a remainder interest which would constitute a beneficial interest in land which means in principle the 3% SDLT additional charge applies.

[maths]

I have assumed (which may not be correct) that your share is currently worth £40,000 or more.