Probate/Inheritance Tax Valuation
When requiring an accurate, official market value of a deceased person’s property at the date of death, for calculating accurate Inheritance Tax (IHT) and fairly distributing assets to the beneficiaries then it is essential that you use a qualified RICS surveyor.
Why Choose A Probate/Inheritance Tax Valuation?
An RICS Probate/Inheritance Tax Valuation provides an independent, professional assessment of a property's market value at a specific date (usually the date of death). This report is essential for executors and solicitors to ensure compliance with HM Revenue & Customs (HMRC) requirements when calculating Inheritance Tax.
Key Benefits of a Probate/Inheritance Tax Valuation:
Accurate Inheritance Tax (IHT) Calculation: It establishes the precise value needed to determine if IHT is due, avoiding penalties for under-valuation or unnecessary payments.
Determines Capital Gains Tax (CGT) Liability: It sets the "base cost" of the property. If the property is sold later for more than this value, CGT may be owed on the difference.
Assists in Legal Administration: The valuation is crucial for submitting accurate figures during the probate application.
Ensures Fair Distribution: It provides an objective, market-based value (not a forced sale price), allowing executors to divide the estate accurately among beneficiaries.
Reduces Disputes: An independent valuation from a RICS qualified surveyor or estate agent reduces conflicts among beneficiaries regarding the property's worth.
OUR PROBATE/INHERITANCE TAX VALUATION PROCESS
1
Initial Consultation
We begin with a discussion to understand your needs.
2
Booking the Valuation
Once you request a valuation, our team will arrange a suitable date to inspect the property.
3
The Property Inspection
The RICS surveyor will conduct an in-depth inspection.
4
Valuation Preparation
After the inspection, the surveyor compiles evidence to calculate the current market value of the property.
5
Receiving Your Valuation
You will receive your valuation within a few days, which you can then forward to the appropriate parties.
How Much Does a Probate/Inheritance Tax Valuation Cost?
Valuation fees vary depending on the property type, size, and location. Here’s what affects the price:
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Larger estates or complex property structures require more extensive market research and inspection time.
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The state of the property can impact the valuation complexity, especially when determining its value at a specific historical date.
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Regional market data and property accessibility influence the time required to produce a robust, RICS-compliant report.
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The fee reflects the "Red Book" standards required to ensure the report is defensible to HMRC and the District Valuer.
For an accurate quote based on your property, get in touch with our team today.
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The Royal Institution of Chartered Surveyors (RICS) sets the gold standard for surveying professionals.
By choosing a RICS-accredited surveyor, you are assured of expert advice, high-quality service and adherence to strict ethical standards.