Inheritance Tax old threshold

edited 30 November -1 at 1:00AM in Cutting Tax
1 reply 513 views
tlambert1766tlambert1766 Forumite
34 Posts
Part of the Furniture Combo Breaker
edited 30 November -1 at 1:00AM in Cutting Tax
My mother inherited a dwelling in 1995 . A nominal valuation at the time was £100,000 and this was given for probate.
It is believed this was undervalued and could have been valued closer to the iht thrshold at the time of £150,000
The time has come to sell the house so whe is trying to avoid a large capital gains bill.
Is there any way of revisiting this original figure of £100,000 and increasing it to £150,000 and avoid that part of the capital gains bill?
Hope this makes sense
Thanks

Replies

  • ceeforcatceeforcat Forumite
    1.1K Posts
    1) this is something that I would not even attempt.

    2) I cannot envisage a situation where a retrospective valuation 15 years hence would hold more weight than a valuation performed timeously.
This discussion has been closed.
Latest MSE News and Guides

Students - apply for uni funding NOW

If you plan to get a place via 'clearing'

MSE News

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides