Avoiding stamp duty on part of an inherited property

EM101_2

Hi all,

I am about to inherit 50% of my late parents estate with the other 50% going to my sibling.

The estate is roughly as follows:
Property £350K
Cash 150K

Total inheritance therefore £250k per sibling.
I would like to hold on to the property and compensate my sibling £100K to add to his inherited cash of £150k in order that we have the same benefit as intended. Assets are due to be divided by the solicitor as soon as we are ready.

My question is this;
Can this be done so that no SDLT is due? My solicitor seems to think SDLT would be due on the £100K at the second home rate (I am an existing homeowner)but someone else advised me that this is perfectly avoidable.

Any help is appreciated.

EM101_2

Hi Eggha,
Thank you very much for your advice. I appreciate you spending the time replying in such detail and providing the relevant links.

Thank you!