I am acting as executor in my mothers estate.
I have a query which is a bit SDLT/IHT/CGT but posted here first.
There will be CGT to pay on the uplift of the house sale.
To mitigate this I intend to appropriate 19% to each of the four residual beneficiaries.
Two beneficiaries have a deed of variation which splits their entitlement with their spouse 50/50. (=9.5% each)
There was a debt secured on the house at date of death, currently c£220,000.
I understand that the original beneficiaries will have no SDLT to pay, but do the ones inheriting by deed of variation?
Does the DOV count as a gift for SDLT purposes?
The DOVs were signed before the two year anniversary of death but the house sale will complete after, does this affect anything?
Can I appropriate the assets whilst retaining the debt in the estate - so no consideration?
Is 9.5% of £220K considered below any SDLT threshold for each spouse?
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