Is stamp duty payable on inherited property

[Camlink]

Hi,

Without going into too much detail I have the following query.

I just thought that inheritance tax was payable (if over the threshold) but my brother's accountant told him that he had to pay stamp duty (family business + family home).

As executrix I am in touch with our solicitor, but, before our next meeting I would like to have all my facts together.

I had a look at various websites including revenue but couldn't come up with anything.

Any advice or info gratefully received.

Many thanks,

Camlink

 

[Vanilla]

If it is a straightforward devise of a property left in the will to your brother there is no stamp duty. If there is however a deed of family arrangement involved- for eg the property was left to you and you have agreed that your brother should have it, then there may be stamp duty.

 

[Camlink]

Thank you Vanilla,

That's the reply I was expecting (& hoping for).

Camlink