Probate Valuations

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Quastel Associates are able to provide Probate valuation services throughout the United Kingdom.

OUR SERVICE

An impartial valuation of fine art, antiques, jewellery and general household contents is required by the estate’s Executor or Solicitor to calculate Inheritance Tax Liability.

We deal directly with solicitors and executors and with our experience of all types of probate valuation, we are able to provide an accurate written valuation for probate along with any other documentation necessary to satisfy HMRC. It is our aim to make the probate process as easy as possible.

Obtaining a professional probate valuation has become more important than ever. There have been an increasing number of cases where the valuation has been the subject of HMRC investigations, usually where it has been carried out by an unqualified valuer. Due to the experience of our valuers and the research conducted, we are perfectly placed to respond and assist with any queries HMRC might have.

In addition to adhering to HMRC requirements, obtaining a professional valuation eliminates the possibility of inadvertently discarding or disposing of higher value items in the property. Our team can offer assistance and guidance with such items to ensure they are dealt with appropriately.

OUR REPORT

Our valuations for probate purposes are accurately compiled and fully compliant with Section 160 of the Inheritance Tax Act 1984 and upon finalising, are ready to submit to the Inland Revenue for Inheritance Tax calculations.

The report will itemise higher value items or bequests and the lower value items will be valued collectively. We are guided by HMRC at what level to itemise but should additional detail be required, we are able to accommodate this to suit. Valuations are carried out with a clear indication of the market value of items in the estate. The market value is calculated at the date of death and so valuations carried out at a previous time would not be accepted by HRMC.

Probate valuations of chattels are handled by our experienced valuation team and our reports are generated quickly and efficiently. We can usually present our report within five working days or, if further research is required, within ten days. In urgent cases we are able to provide a written probate report within 24 hours. This allows our clients to effectively finalise the necessary paperwork during this difficult time.