Trust Implications on Stamp Duty

[DonHill]

I already made a thread a while back on the CGT section but i'm looking for more specific help about the rules regarding trusts and my situation

Following my grandparents death (8+ years ago) I am a beneficiary (25% share) of two interest in possession trusts that jointly own a property (~£1m, never been my main residence). One of these is a qualifying IIP trust bound by pre 2006 rules and the other set up after and subject to 10 year anniversary charges. I am now looking to buy my first property which will be my main residence. I am liable to the higher rate stamp duty as a result of this trust and since this is a considerable sum so I was wondering if there was any way the trust could be restructured to avoid this charge.

We contacted the firm that handles the trust who suggested making my shares discretionary which would mean I wouldn't be liable for the additional stamp duty as per the guidelines but as a result the qualifying pre 2006 share would then become liable to the 10 year charge. After running some calculations they determined it wouldn't be cost effective to do so.

Are there any other avenues I can explore (without the trust property being sold)? Is it not possible to gift some of my share to the beneficiaries (such that my total share of the trust property was worth less than 40,000 and therefore I wouldn't be liable to the higher stamp duty) and then for them to gift it back after i've purchased? Or would that cause the transferred share to lose it's pre 2006 status and incur charges/have other tax implications?

I appreciate this is complex situation but after running up a large bill asking the firm to look at the situation and run calculations i'm reluctant to press them further so I was interested to see if anyone had any other idea before I plough on with the purchase regardless.

Thanks