Probate Valuation Blog
Practical guides for executors handling estate valuations.
What Is a Probate Valuation? A Complete Guide for Executors
A probate valuation establishes an asset's Open Market Value at date of death, required by HMRC for Inheritance Tax. Plain-English guide for executors.
Open Market Value for Probate — What It Means and Why It Matters
Open Market Value is the legal standard HMRC requires for probate. A plain-English explanation of section 160 IHTA 1984, the willing-buyer hypothesis, and how OMV differs from insurance value.
The HMRC £1,500 Rule Explained
When do you need a professional valuation for probate? Understanding the HMRC £1,500 threshold for estate valuations.
What Counts as a "Single Item"? Sets and Collections in Probate Valuation
How HMRC interprets the £1,500 threshold for sets, pairs, and collections. The natural-unit principle, IHT407 grouping rules, and edge cases that catch executors out.
The 6-Month Inheritance Tax Deadline Explained
Inheritance Tax must be paid within six months of death — but probate often takes 9-12 months. A guide to the deadline, the Direct Payment Scheme, instalments, and HMRC interest.
Probate Valuer Qualifications: NAJ, IRV, RICS, Gem-A Explained
Which qualifications matter for a probate valuation that HMRC will accept? A practical guide to NAJ, IRV, RICS, Gem-A and SOFAA — and why professional indemnity insurance protects executors.
Complete Executor's Checklist for Valuations
A step-by-step guide for executors handling probate valuations. From identifying assets to submitting IHT forms.
Insurance vs Probate Valuations — What's the Difference?
Insurance and probate valuations serve different purposes and produce different figures. Understanding the distinction is critical for executors.