Stamp Duty on Inherited Property

[Paulcox74]

Hi,

Just doing some inheritance planning and wondered if someone could help.

When my mother passes away I will inherit her property as detailed in her will (in my name only). I understand I wouldn't have to pay any Stamp Duty in that situation.

However, at that point I will look to register in mine and my wife's names jointly in order to then have any rental income paid to her as a basic rate tax payer (having completed a declaration of trust/form 17). Would we then be liable for Stamp Duty as we're registering in joint names rather than just my name as designated in the will?

Thanks in advance.

Paul

[someone]

Only if there's consideration - your wife is paying you for her share or there's a mortgage on the property. If it's a gift to your wife with no mortgage involved then there will be no SDLT.

[Paulcox74]

That's great, thanks.