Gifts and inheritances

  1. Overview
  2. Gifts
  3. Inheritances

Inheritances

You do not pay Stamp Duty on property you inherit under a will or on intestacy. Intestacy means that there is no will or that the will made is invalid. You do not file a Stamp Duty return.

However, if you get more than you were entitled to under a will or on intestacy you pay Stamp Duty.

You pay Stamp Duty on the "more".

Where money is paid by the beneficiary to the personal representatives, Stamp Duty is chargeable on the amount paid by the beneficiary.

There is no deemed gift if the amount paid by the beneficiary is less than market value.