I am currently buying my main home with my girlfriend. My parent’s house was mortgage-free when my dad died, and his share went to my mum. However, she passed his share to me by deed of variation. So, I now own 50% of that house. My mum wants to move and I want to buy her share with a mortgage so I can let it out. The property is valued at £400,000. I hope to get a mortgage to buy her share: £200,000. How much stamp duty land tax (SDLT) will I have to pay? I already own 50%, so surely I won't need to pay tax on that?

Arthur Weller replies:
It is not clear whether you are buying out the 50% share of your mother in the inherited house, and also buying your main home with your girlfriend (i.e. buying two houses), or only buying out your mother (i.e. only buying one house). On the assumption that it isthe latter, or at least (if you are buying two houses) the inherited house will be the first house that you are buying – then there will be no extra 3% SDLT on the inherited house. See ‘Stamp Duty Land Tax - higher rates for purchases of additional residential properties’(www.gov.uk/government/publications/stampduty-land-tax-higher-rates-for-purchases-of-additionalresidential-properties) and Q&A 16 on page 29. The SDLT on £200,000 is 2% on the amount above £125,000 (i.e. 2% on £75,000 = £1,500).