Shares value for probate form

Hew

I'm currently completing probate forms for my late brother who was a director of a small private limited company. I need to find out what the company shares are worth but dont know how this is calculated, would it be the net book value?
Thanks in advance.

xylophone

https://www.litrg.org.uk/tax-guides/bereavement/how-do-i-assess-estate-inheritance-tax-purposes

If the deceased had shares in a private company, the shares will not be listed on a recognised stock exchange. There is no open market for private company shares. You will need to contact the company secretary of the private company or the accountant to obtain a valuation for the shares.

There is more information on how to value stocks and shares for IHT in the 'Guide to completing your Inheritance Tax account (IHT400 notes)' on GOV.UK.

https://library.croneri.co.uk/cch_uk/etc/17010

There is this but dated five years ago

http://www.sundialtax.com/blog/news/capital-taxes-private-company-shares/

Hew

Thank you xylophone. I've finally made contact with the company accountant yesterday afternoon who may be able to help. I would have been in touch sooner but my brothers partner has been difficult to contact and not forthcoming with any information.

getmore4less

IHT manual is the most upto date place for guidance on anything IHT.

https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm18000
https://www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm18131

Which refers to

http://www.legislation.gov.uk/ukpga/1984/51/section/168

It also referes to the
HMRC team that deals with this sort of thing
https://www.gov.uk/guidance/shares-and-assets-valuations-for-tax
which have their own manual.
https://www.gov.uk/hmrc-internal-manuals/shares-and-assets-valuation-manual

I had a quick look and it does cover some aspect but did not see anything useful to help with valuation.

Hew

Thank you getmore4less, this should certainly help.