We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
"Excepted Estate" Question
pimento
Posts: 6,243 Forumite
If I've had my late mother's house valued and the two estate agent valuations plus the rest of her estate are under the inheritance tax allowance to tax to be liable, can I go straight to the application for probate?
I've tried calling HMRC and they are almost impossible to speak to.
Thank you.
I've tried calling HMRC and they are almost impossible to speak to.
Thank you.
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
0
Comments
-
Are they well under the threshold or would a higher sale price push it over the limit?
When I did probate for my FiL’s estate, it was nowhere near the limit so I went straight to application, it was very simple to do as long as you have all the pertinent information.1 -
It's well under. Flat worth £220k - £230k and £8k in cash. Contents of flat negligible value."If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0
-
As that is all covered by her NRB no IHT return required so you can straight to the probate application. If I was you I would add a bit to that top valuation to avoid a CGT issue if you are planning on selling.pimento said:It's well under. Flat worth £220k - £230k and £8k in cash. Contents of flat negligible value.1 -
Both estate agents valuations are in writing. Do I have to send those with the application?
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0 -
No, the probate office do not need to see those.pimento said:Both estate agents valuations are in writing. Do I have to send those with the application?1 -
Thank you!"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair0
-
I added £15k on top of valuation for probate and as it happens, that’s what it sold for during lockdown when prices were going mad.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.5K Banking & Borrowing
- 254.1K Reduce Debt & Boost Income
- 455K Spending & Discounts
- 246.5K Work, Benefits & Business
- 602.9K Mortgages, Homes & Bills
- 178K Life & Family
- 260.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards