1st Call 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 or house clearance as stress free as possible.
Probate or confirmation valuation reports will be prepared within 7 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.
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.
1st Call provide clear and accurate probate valuations reports in accordance with HM Revenue and Customs guidelines.