What stamp duty due when you have inherited part of a house but you want to buy a new main residence

Logkat36

Hi,

My Dad passed away last year and I have inherited a small portion of the house (Mum has 50%, me and my siblings got 1/3rd of the remaining 50% each). 
I believe I am now classed as having two properties as I already have my own home.
I want to sell my main residence and purchase a new one, so that I can be closer to my Mum, but I am not sure what rate of stamp duty I would now be liable for.

Would it just be the standard rate as I am selling my main residence and purchasing a new main residence or would it be the higher rate because I technically have two properties?

Thank you in advance for any advice

p00hsticks

If you sell your current main residence before or at the same time as  buying the new one there will be no additional SDLT to pay, regardless of how many other properties you currently own.

[ Also - was your mother given a life interest to remain in the property as I think this might affect whether this currently counts as a second property of yours } .

Logkat36

Thanks. Yes she does have life interest to remain - that is useful to know it may not impact it.p00hsticks said:

If you sell your current main residence before or at the same time as  buying the new one there will be no additional SDLT to pay, regardless of how many other properties you currently own.

[ Also - was your mother given a life interest to remain in the property as I think this might affect whether this currently counts as a second property of yours } .

SDLT_Geek

Logkat36 said:

Hi,

My Dad passed away last year and I have inherited a small portion of the house (Mum has 50%, me and my siblings got 1/3rd of the remaining 50% each). 
I believe I am now classed as having two properties as I already have my own home.
I want to sell my main residence and purchase a new one, so that I can be closer to my Mum, but I am not sure what rate of stamp duty I would now be liable for.

Would it just be the standard rate as I am selling my main residence and purchasing a new main residence or would it be the higher rate because I technically have two properties?

Thank you in advance for any advice

I am assuming that the property you will be buying is in England, so the relevant stamp duty is stamp duty land tax.  Is that right?

If so, then it sounds as if there will be multiple reasons why the extra 5% SDLT would not apply on your purchase of a new residence.

Keep_pedalling

Technically you and your siblings do not own a part of the family home. Legal ownership of your father’s share is owned by a trust, but beneficial ownership is with your mother. You and your siblings are remaindermen and will inherit on your mother’s death. This also avoids a CGT liability when the home is eventually sold. 

Do you know if the trusts has been registered with HMRC? That needs to be done within two years of his death.

debt_free_delilliah

I have recently been in a similar position. I had my own property owned jointly (with a mortgage) with my partner for the last 15 years. I then inherited 50% share of the home I grew up in after my mum passed away last year. I have just sold my home and purchase a new home in March 2025. As I was swapping a main residence for another main residence I did not have to pay the extra 5% second home stamp duty fee.