Amendment to probate after it has been granted

Tnamada282

Hi There,

My Mam Recently passed away, there was some confusion as when her house was last valued. After we had applied for probate we found out that it was longer agao than we thought and have the house re-valued. This has resulted in a 20k increase in the property. My Mam was in a car accident a few years ago ( case still ongoing). They told us the best we could hope for was 5k and since the probate has been applied for and granted they have now come back to us said that you could potentially have 20k. So in total there is an increase of 40k since probate was granted. 

Including this increase the value is still well below the Inheritance Tax Threshold. I have been getting mixed advice from various sources. I have tried contacting the probabte office and i cant get in touch with them - no one answers or there is no on there. some sources online line are saying i need a deed of will others say i need a deed of will and a PA7 form. 

I literally have no idea what to do - please help

Keep_pedalling

You can’t amend the probate value once probate has been granted. If it ment IHT was payable you would need to report the change to HMRC, but that is not the case here. 

The main impact of undervaluing her home is that capital gains tax is going to apply on the ‘increase’ in value when you sell it.