Hi there tax advisors ----can u please advise ??
My elderly grandad wishes to give half of his share of his house to my self and his son.(1/4 each). he no longer lives in it.
value of house apprx £560.00
i wish to buy the 1/4 share left to his son as he would prefer the money. what is the best way to avoid stamp duty?
i am thinking that the 1/4 share is worth £115.000 ---- can i just buy it off him and not have to pay stamp duty --- even if this is my second home?
Also this would not later be seen as a gift with reservation and subject to IHT?
thank you for your help
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