Inheritance- Valuation of Assets assessment by HMRC

EmmaCK31

Hi,
My parents’ Will is dragging on. 

The solicitors are sole executors. 

We have just received this message: ‘Please note that we, as Executors, have been contacted by the Valuation Office Agency. A District Valuer has been appointed by HMRC to value the assets in the Estate including this property.’

Could anyone tell me if there is a set time frame  in which these assessments must be completed by HMRC? 
Many thanks 

Countrysider

I don't have an answer but I am in the same situation.

Solicitors contacted me in December 2022 to say the district valuer needed to visit the property. Contacted again in June 2023 saying they needed help in finding it. I gave all the information I could and my phone number. We're now 2 months on and they've still not visited as far as i know. 

Probate was granted June 2023. I assumed this would be the deadline they were working to but apparently not. They seem to work to no deadline and can happily dither as long as they like. I did wonder if this was the solicitors inventing additional probate work, but that seems extreme even for them. 

lincroft1710

It is a long time since I worked in the VOA and even longer since I had any dealings with the DV side of the work. "Time Limits" is perhaps not the correct term as although the DV was supposed to make their report back to HMRC within a certain time frame, if they didn't then that was just unfortunate. HMRC couldn't use a big stick to beat the DV with, if their report was late. 


It is obviously an annoying situation but i doubt there is anything you can practically do about it.  

propertyrental

I cannot answer the question (sorry) but I would urge anyone reading this who is writing or planning to write their will (or has a family member doing so) not to appoint solicitors as executors except as a last resort (ie absolutely no one else).

They are pedantically precise (not a criticism as such, just a comment. They are professionals so have to be) so consequently slow, but also potentially very expensive (hourly rates....).

And any lay person appointed as an Executor can always employ a solicitor to help/advise them with difficult bits of the process whilst doing the simple stuff themselves.

babyblade41

propertyrental said:

I cannot answer the question (sorry) but I would urge anyone reading this who is writing or planning to write their will (or has a family member doing so) not to appoint solicitors as executors except as a last resort (ie absolutely no one else).

They are pedantically precise (not a criticism as such, just a comment. They are professionals so have to be) so consequently slow, but also potentially very expensive (hourly rates....).

And any lay person appointed as an Executor can always employ a solicitor to help/advise them with difficult bits of the process whilst doing the simple stuff themselves.

I disagree, we have had our family solicitors executors of both my parents wills and they were excellent .

They insisted I get my own house valuation from a surveyor instead of waiting and precise they are, especially dealing with IHT if there is some due 

I want my will followed to the letter which is why the same company are executors to my will as well 

It was all done in a timely manner from our end 

km1500

just out of curiosity how did the solicitors find out what gifts have been made in the last seven years? do they demand seven years bank statements?

babyblade41

km1500 said:

just out of curiosity how did the solicitors find out what gifts have been made in the last seven years? do they demand seven years bank statements?

The solicitors have all of the deceased bank statements so can see if any large amounts have gone out or if regular payments have been made

martindow

In my experience tracking down the paperwork from banks, employers, etc. is the most time consuming and filling in the form to obtain the grant of probate a relatively minor part of the task.  

I agree with propertyrental that generally there is no need to pay for solicitors.  There have been some horror stories of solicitors charging large sums and taking inordinate amounts of time to perform a relatively straightforward task.