Stamp Duty

uluruclare5

I should be grateful if any stamp duty experts on here could advise me on what stamp duty is due on the purchase of my deceased parents’ house. 

I have agreed a price of £355,000 with my two siblings. 

The total estate is worth £896,000.

I calculate I will need to pay my two siblings approximately £76,000, after costs on the estate have been deducted.

This will be a second home purchase. 

What stamp duty is due on the share that I am buying from my two siblings? 

I am expecting to get this purchase made before the stamp duty changes in April, the implications of which I am aware.

Thanks in advance for any specific advice you are able to give. 

Keep_pedalling

What was the house valued at on the IHT return? 

You could reduce your liability by distributing the estate so that your siblings get all the other assets and you a larger portion of the house which would reduce the % you have to buy.

Olinda99

stamp duty is payable on the purchase price - ie the amount you give your siblings - plenty of online calculators

(If you already own a part of the house because you are left it then obviously stamp duty is not payable on that.)

an additional 3% on thr purchase price as it is second home