I.T.G. probate or confirmation valuation provides a range of services to assist in the winding up of an estate. We provide our services to private individuals, solicitors, executors & administrators across the UK. Our aim is to make probate valuation as stress free as possible.
Probate or confirmation valuation reports will be prepared within 5 days of our valuer’s visit and will provide a clear indication of the market value of each item within the estate. The valuation report will include images with clear and accurate descriptions enabling quick identification of items of value.
I.T.G. probate valuations will be pleased to guide you through the entire house contents valuation process from start to finish. We will provide you with a professional typed valuation report (Estate Valuation Report), produced on headed note paper, which confirms to HMRC the value of the goods and chattels of the estate for probate or confirmation purposes, in accordance with the Inheritance Tax Act (1984).
Under the circumstances of death in the family or friends, it may be difficult to consider pragmatic matters such as the administration issues relating to the estate and property of the deceased. Nevertheless, it is important to handle and resolve these issues as quickly and accurately as possible, in order to ensure that all the correct beneficiaries receive their full financial entitlements. This is where probate valuation comes into play.
An Excerpt taken from the HMRC website.
It is advisable to get a valuation from a qualified and experienced professional valuer. HMRC’s IHT manual at paragraph 21041 makes this clear. For example it directs that where a valuation is qualified as being made “for probate purposes” or for “IHT purposes” HMRC will query as to whether the correct basis has been used.
Where IHT is payable after death, the personal representatives of the deceased must complete HMRC’s form 400. Supplemental IHT form 407 is specifically for household goods. This form breaks down into four parts –
- Jewellery, individual items valued at £500 or more to be detailed separately.
- Vehicles, boats and aircraft.
- Antiques, works of art or collections.
- Personal belongings, furniture, fixtures and fittings in a house.
I.T.G. provide clear and accurate probate valuation & IHT valuations reports in accordance with HM Revenue and Customs guidelines.
Our probate valuation services include:
- An in-depth professional house contents valuation (with photos).
- Travel to any location.
- Valuation reports prepared within 5 days of our valuer’s visit.
- Safe storage advice for more valuable items.
- Our house contents valuations will satisfy the requirements of the Inheritance Taxes Act, 1984.
Full House Clearance Service
(We are members of AFTA: The Anti Fly Tipping Association)
We can arrange the property to cleared & cleaned once your ready to proceed to that stage. Read more about our house clearance service.
Antiques & Collectibles
We constantly monitor the antiques & collectibles market and are fully aware of aspects such as rarity, quality, special features and can easily recognize certain valuable items that may not be apparent to you.
We are happy to assist with the valuations of antiques, jewellery, object d’art, or collectibles. Whatever the reason, whether it’s simply out of curiosity or whether it’s to help you decide on how to divide property between beneficiaries, we will be delighted to offer advice and assistance. See some recent items we have valued for probate.
Probate Valuation FAQs
For executors who are not familiar with probate valuations and the process of obtaining probate, we have compiled a list of probate valuation frequently asked questions.