Do I pay any tax (e.g. stamp duty land tax (SDLT)) if I buy a property in Manchester from a deceased person’s estate? I understand that the person was living there when they passed away. I am a small portfolio landlord with the intention of renting the property out in the future.
Arthur Weller replies:
You do pay SDLT when you purchase property from a deceased person's estate. In fact, if this is not your first property you pay an extra 3% SDLT. However, when someone inherits from a deceased person's estate, there is no SDLT to pay. The only tax to pay for someone who inherits may be inheritance tax - depending on the details of the estate.