District Valuer

Inadilemma

Hi, having recently been granted grant of probate and settling IHT etc, the district valuer is asking questions regarding the properties involved in the estate. Is this standard practice or more a query about the values and potential extra IHT to be paid?

I got proper paid for RICS valuations in order to come up with the property valuations.

Thanks

lincroft1710

What sort of questions is the DV asking?

Inadilemma

lincroft1710 wrote: »

What sort of questions is the DV asking?

Good question as haven’t seen the form yet, was just a bit worried about extra IHT and wondered if it was fairly standard or not.

SeniorSam

Don't worry too much about variation in IHT, as this does sometimes happen either by not getting enough valuations to compare, or a price difference between date of death and sale date. This is a good reason not to distribute the estate until all these matters have been sorted out. When you do distribute the estate, make sure that you clarify to beneficiaries that should there be additional debts to meet, the beneficiaries may be called upon to meet those debts from the inheritance.

Inadilemma

Hi, Does anyone have any experience of how long the District Valuer generally takes. I sent through forms over a month ago and have heard nothing at all. I have probate but waiting for this in case any further IHT is requested.

Thanks

Tom99

Can take several months. The VO will have been asked to comment on the values you have supplied. You may need to employ your surveyor to negotiate with the VO if the VO think the values your have are too low.
You can always ring the VO office to enquire on progress, they may not yet have the authority to discuss the matter with you but may be able to give you a timescale for their report to the IHT Office.

lincroft1710

Speed of response will depend on the caseworker's workload, what cases have priority and complexity of case.

Inadilemma

Funnily enough I phoned them yesterday and we went through it over the phone, agreed on the valuations (extra 40K for one) and then the VO have now emailed me confirmation and are sending back to the inland revenue for extra IHT. I dread to think how long it would have waited if I just left it to them and the solicitor.