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Inheritance Tax old threshold
tlambert1766
Posts: 35
Forumite
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
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
0
Comments
-
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.0
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