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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
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Experience:  FCCA - over 40 years experience as a qualified accountant (UK based Practitioner)
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My wife is buying a house For £450,000. She inherited her

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Hi, my wife is buying a house For £450,000. She inherited her mums house in October after she passed away. We have a company dealing with the estate right through to the sale of the house and her name has never been on the deeds. Neither of us have ever owned property of our own. Would we qualify for the first time buyer SDLT relief?
JA: Have you talked to a tax professional about this?
Customer: No
JA: Anything else you want the Accountant to know before I connect you?
Customer: No, I believe that’s all

Hello and welcome to JustAnswer. I am here to help you. I am reviewing your question and will respond to you shortly.
Many thanks

Thank you for your question.

Please clarify for me

If your wife is inheriting cash from sale of mum's house and neither of you have owned a property in your own name, then you would qualify for the first time buyer SDLT relief.

General description of the measure is covered here

https://www.gov.uk/government/publications/stamp-duty-land-tax-relief-for-first-time-buyers/stamp-duty-land-tax-relief-for-first-time-buyers

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Customer: replied 1 year ago.
My mother in law leftover estate including the house to my wife in her will. We have a third party acting on behalf of my wife to deal with the estate including the sale of her mothers house. As the house was named in the will would this not be considered owning an interest in the property. Also we haven’t resided at the property as we rent a place of our own.

Thank you for your reply.

If the executors sell the property before it is transferred to your wife then this would not be considered owning an interest in the property.

I hope this is helpful and answers your question.

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