Hi Donna,

I will be inheriting a 1930's house that is going to need serious work doing to it, possibly including underpinning, re-pointing, new floorboards, re-wiring throughout, etc. Do I still need to do land surveys etc, pay stamp duty, if I already own the property? What else do I need to do?

Thanks.

Coastergirl

Our Homes And Property Expert replies:

Hi Coastergirl,

Stamp duty is a levy you have to pay to the government when you actually buy a house, but depending on how much the house is worth, you'll have to pay 40 per cent inheritance tax on everything you own above £285,000. This is more than likely considering that the average house price today is more than £300,000 in 83 towns around the UK.

It's best to consult a tax advisor or family lawyer for more advice on tax before you carry out any repairs. You may find the Free Lawyer website a good source of legal advice for housing issues.

As for the work you have to do to your property, most of it will have to abide by planning regulation guidelines. These are guidelines set by the government to ensure the health and safety of people in and around all types of buildings and to make sure all work provides for energy conservation. You can download a complete set of approved building regulations at the Building Regulation website.

Depending on the severity of some of the problems your house has - particularly the underpinning which can be major work - you may need to consult a professional advice relevant to the work you want to carry out - ie: an architect, a structural engineer, a building surveyor, heating engineer, electrician etc. Particularly as the work your project involves may be subject to other statutory requirements such as fire precautions and water regulations.