Valuation for Probate

Valuation for Probate

What is a probate valuation?

One of the main duties of an executor or of an administrator  is to value the deceased’s estate which includes everything the person may own being the house and all personal items such as antiques, automobiles, possessions they may have that are worth something to make up the estate.

The property will need to be valuated so the tax can be paid on the property.

Why do I need a professional probate valuation of house contents and property?

The reason everything needs to be valuated is so the Probate process can run smoothly and also for tax purposes. Professional valuations are vital as the HMRC will check the authenticity of the valuation and if there has been any mistakes it will more than likely cause delays.

A vaulation that has been given my someone without any knowledge of probate could result in an investigation that could result in the beneficiaries paying more tax than neccessary. This will cause huge delays and could disrupt the smooth running of the probate application.


Another reason to get a probate valuation expert is so that any items that have been left to special beneficaries can be valued and distributed accordingly.


Which HMRC forms will I need when dealing with a probate Valuation?

Final Duties will supply all revelant documentation and arrange to visit the property to give an accurate valuation.


You will need the following forms when dealing with a probate valuation. These forms can be taken from the HMRC website the link is below. They can be downloaded or printed.

You will need to attach the probate valuation when filling in these forms and sending the back to the HMRC.

Schedule IHT 404 – Jointly owned assets.

Schedule IHT 405 – Houses, land, buildings and interest in land.

Schedule IHT 407 – For jewellery, vehicles, boats, aircraft, antiques, works of art, or collections

Schedule IHT 408 – This is for household and personal goods donated to charity