IHT400 - where to enter money left to grandchildren

probate_slave

sahbuk said:

Regarding jewellery, will HMRC insist on a valuation report for each of the most expensive items (as none are worth £1500)?
Only a few are worth more than £100 - we've just done a rough guess of the total value as being £1000

  No, HMRC certainly don't need individual values in this case. And given the value of the jewellery relative to the whole estate, nor are they likely to enquire into the collection. But neither do you want to enter estimates on IHT400. Personally I would pay a jeweller £80 to give a professional probate valuation, and enclose a copy. How else would you obtain its value? True it will mostly be based on the scrap metal values of gold and silver at the date of death.