Probate Values

HappyNorthernEnglander

I am completing the online probate values, and just need to clarify something.  

Say I had the following values from the IHT Calculator:

Assets in the estate: £100,000
Gifts in the last 7 years: £20,000
Gross Estate Value for IHT: £120,000
Debits owed from the estate: £10,000
Net Estate for IHT: £110,000
Net Qualifying Estate for IHT: £10,000

Am I right in thinking that the Gross Value For Probate is the same as "Assets in the estate" = £100,000

and that the Net Value for Probate = "Gross Value For Probate" - "Debits owed from the estate" = £100,000 - £10,000 = £90,000?

Thanks!