Buying house from estate and source of funds

mattk1234

Hi I expect I should really get specialist advice on this but would like an idea of options and if we are worrying over nothing. So my late father left an estate with some money a house and pension pot, the estate does not owe any IHT and probate has been granted and is to be split between myself and my siblings. The pension pot i believe sits outside the main will. So the issue is one of my siblings would like to take on the house which was not originally stipulated in the will although a clause is entered saying that is ok. However settling the estate  i.e. paying for the share of the house due to myself and other siblings would need to come from the pensionable money. Does this have a tax implication due to the source of the funds ( The house value is ~300K)? The irony is not lost that who we would ask for advice on this and we always  changed the subject when he talk about it is not here. Any help or experience appreciated.

Keep_pedalling

Any tax due on the pension money will depend on the type of fund and the age of your father when he died. Regardless of what the money is used for, any tax due will be paid by the recipients in the for in the form of income tax.

https://www.gov.uk/tax-on-pension-death-benefits

mattk1234

It doesn't owe tax as death was before 75. We can withdraw cash from pension. I suppose to having thought about it, it's whether stamp duty will be applicable as the sole ownership of the  house is essentially being funded through the pension money which is separate from the other assets.