Peter Barry Chartered Surveyors regularly undertake inheritance tax & probate valuations for properties in London and the surrounding areas.
Where a deceased person’s estate includes a house or flat a valuation of that property will need to be submitted to HMRC for inheritance tax & probate purposes. Valuations submitted to HMRC can be subject to review by the Valuation Office Agency (the agency which provides property valuation advice to HMRC), and it is therefore important that the valuation is carried out by an experienced professional, with the appropriate skills and knowledge to provide an accurate valuation. This is commonly called a ‘Red Book’ valuation.
The valuation process
Peter Barry Chartered Surveyors will allocate a specialist Chartered Surveyor & RICS Registered Valuer to your case. The surveyor will conduct a site visit and inspection of the property, carry out a detailed review of all of the applicable comparable evidence, and produce a formal ‘Red Book’ valuation report.
As tax valuation specialists we can assist with complex property matters that may be beyond the experience of other firms. Such matters include historic valuations, the valuation of complex freehold reversionary assets, and providing advice on any reduction that may be applicable to the valuation of jointly owned property in accordance with the Valuation Office Agency’s Inheritance Tax Manual.
RICS Valuation Professional Standards
Our valuations for inheritance tax & probate purposes are carried out in accordance with the RICS Valuation Professional Standards and as per the proper statutory basis of value under the Inheritance Tax Act 1984. As such the valuation and report ought to stand up to any scrutiny by HMRC and the Valuation Office Agency.
Contact Us
If you wish to discuss a probate valuation or arrange for a valuation of your property our friendly team are on hand to help.
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