A Valuation for Probate will be required for Inheritance Tax Purposes (IHT) for any property that is worth more than £325,000. The report will provide a valuation of the deceased’s property at the date of death.
It is important to note that even if the beneficiaries do not intend to sell the property, a probate valuation will still need to be undertaken for tax purposes. This gives you the legal right to deal with the deceased’s estate and enables you to determine the amount of inheritance tax that requires paying.
We undertake probate valuations which comply with the rules and guidance of the RICS Red Book.