IHT Property Sale expenses deductions

RWB123

Hi
My deceased mothers house is about to be sold.
Valuation on IHT form (Accepted by HMRC)  £830,000

Sale price £831,250
But there will be agents Fees , solicitors etc decucted so net proceeds Approx £815,000

Can I use IHT 38 to reclaim some IHT based on Nett proceeds?
On first reading it seems not but perhaps a claim for post death expenditure instead?
Any advice much appreciated

Thanks
R

Keep_pedalling

You can claim selling costs against CGT (not applicable in this case) but not IHT which is based on the value at the time of death.

poseidon1

RWB123 said:

Hi
My deceased mothers house is about to be sold.
Valuation on IHT form (Accepted by HMRC)  £830,000

Sale price £831,250
But there will be agents Fees , solicitors etc decucted so net proceeds Approx £815,000

Can I use IHT 38 to reclaim some IHT based on Nett proceeds?
On first reading it seems not but perhaps a claim for post death expenditure instead?
Any advice much appreciated

Thanks
R

Regrettably a claim via form IHT 38 makes it clear that the gross sale proceeds are in point and no allowance can be made  for the related  costs of sale ( see note 6 on the form), so on the gross figure you quote there is no basis for a claim. 

You do of course have an estate cgt loss based on the net proceeds of sale, but in the absence of any other estate assets showing gains and to be sold in due course, the estate property  loss may be wasted.