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Stamp duty question

  • 21-03-2018 10:33pm
    #1
    jooksavage
    Registered Users, Registered Users 2 Posts: 1,535 ✭✭✭


    My sister and I were left a farm between us in our uncles will. I understand that there will be CAT to be paid when probate is complete - no problem. However, our uncles solicitor casually mentioned that there may be stamp duty... I was under the impression that stamp duty did not apply when land was transferred through a will. The solicitor was pretty sure stamp won't apply but says that because we're dividing the land (rather than holding it jointly) he's not 110% sure. We've told him to look into it. I asked my own accountant and he said he's pretty sure SD doesn't apply here. Just to note, we're dividing land pretty much 50-50. Anyone been in situation like this and can definitively tell me if SD might apply?


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  • #2
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    jooksavage wrote: »
    My sister and I were left a farm between us in our uncles will. I understand that there will be CAT to be paid when probate is complete - no problem. However, our uncles solicitor casually mentioned that there may be stamp duty... I was under the impression that stamp duty did not apply when land was transferred through a will. The solicitor was pretty sure stamp won't apply but says that because we're dividing the land (rather than holding it jointly) he's not 110% sure. We've told him to look into it. I asked my own accountant and he said he's pretty sure SD doesn't apply here. Just to note, we're dividing land pretty much 50-50. Anyone been in situation like this and can definitively tell me if SD might apply?

    No stamp duty upon inheritance of land. CAT may not have to be paid. You may qualify for agricultural relief and you may be below the threshold for CAT. depends on the value of the land


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