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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9521
Experience:  Dual qualified Solicitor and Attorney
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My brother and I inherited a property from our Father. We

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Hi, my brother and I inherited a property from our Father. We planned to use a Deed of Variation to transfer the property to a Limited Company we have set up to operate a rental. The solicitor handling probate has flagged that the date of incorporation of the company being AFTER the date of our Father's death could bring about a SDLT liability. I cannot find a reference to the date of incorporation being important (within the 2 years permitted for D o V). Is our solicitor correct?
JA: Where are you? It matters because laws vary by location.
Customer: England
JA: What steps have you taken so far?
Customer: We are on hold. The property is rented and income tax is payable by the estate which has not yet been finalised.
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: Not that I am aware of...

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Hi thank you for your message, please note that I will look to provide an accurate but nevertheless speedy reply to your inquiry. I will endeavour to help you today.

Your solicitor is correct because the deed of variation means that the terms of the Will are amended to reflect whatever changes are set out in the deed of variation as if they were the original terms of the Will. If the company was not in existence at the time then of course, the bequest could not be made to the company. I trust this assists

Jeremy Aldermartin, Solicitor
Category: Property Law
Satisfied Customers: 9521
Experience: Dual qualified Solicitor and Attorney
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