Error on granted probate

Jay_online

 I am the executor and beneficiary after my mother’s passing in April 2024, I applied for probate and was granted this in the 19th May 2024; the only assets are the property under the IHT threshold. When the probate was received, I filled away as I was renovating the home; I got the documents out earlier this month, and was so devastated to see I had made a mistake in the Net Value box by missing a ‘0’ of the figure. I called the probate helpline immediately who advised this was not an issue and it would not make any difference to CGT as HMRC are only interested in the value of the property at death, Despite the advice I am still very concerned and finding this a difficult, worrying time, I feel I made the mistake due to the bereavement I was going through, I checked the figures as noted and did not see the glaring error, neither did my son when I asked him to check. Do I need to apply to change the probate. Kindest regards

Keep_pedalling

Unlike an IHT return, I don’t think there is any way of altering the probate value after it has been granted. If HMRC do query it you can show then the valuations you got when you were doing probate failing that you could obtain a RICS valuation but I doubt whether you will need either.

Jay_online

Thanks for your advice, it is much appreciated

madbadrob

As the figure still keeps the value of the estate under teh IHT threshold I see no issue.  CGT I would also see no major issue because it sounds as if you are living in tghe property and a property that you are residing in as a family home does not come under CGT rules.  See https://www.gov.uk/tax-sell-home If you have not lived in the home since your mothers passing id still not be worrying too much as HMRC will be able to look back on the databases they hold to see what the estimated value at the time of passing the house held anyway.