Probate valuation at the date of death

An independent RICS Red Book valuation of a house or flat for HMRC and the grant of probate. Prepared by a RICS Registered Valuer for executors, administrators and their solicitors across London and the South-East, and written to go straight into the estate paperwork.

020 3900 3902

At a glance

FeeFrom £475

Valuation dateDate of death, retrospective where needed

Report4 to 8 working days after inspection

StandardRICS Red Book, s160 IHTA 1984

ValuerRICS Registered Valuer

Accepted byHMRC, Valuation Office Agency, solicitors

When you need one

The figure HMRC will actually accept

Inheritance tax is charged on the value of the estate at the date of death, and for most estates the property is the largest single item. The valuation has to stand up to the Valuation Office Agency, who check property figures on behalf of HMRC, so it needs evidence from the right date and a valuer whose opinion carries weight.

Applying for the grant of probate

The executors or administrators must report the value of every asset in the estate to HMRC. For a house or flat, that means a valuation as at the date of death entered on form IHT400 and the property schedule IHT405.

The estate is near the tax threshold

Where the estate is close to or above the nil rate band, the property figure usually decides whether inheritance tax is due. HMRC and the Valuation Office Agency look for a formal Red Book valuation, not a marketing appraisal.

The property will be sold or transferred

The date of death value becomes the base cost for capital gains tax when the property is later sold by the estate or a beneficiary. A properly evidenced figure now avoids an argument with HMRC later.

Beneficiaries need an independent figure

When one beneficiary wants to keep the property, or the estate is being divided, an independent RICS valuation gives everyone a number they can trust.

What you receive

A Red Book report, not a letter with a number on it

Valuation at the date of death

An opinion of open market value as defined by section 160 of the Inheritance Tax Act 1984, as at the date of death rather than today, supported by comparable sales evidence from that period.

RICS Red Book report

Prepared by a RICS Registered Valuer in accordance with RICS Valuation, Global Standards. The format HMRC, the Valuation Office Agency and probate solicitors expect.

Inspection and description

An internal and external inspection of the property, with a description of accommodation, condition, tenure and anything that affects value, such as a short lease, disrepair or development potential.

Ready for the estate paperwork

Written so it can go straight to your solicitor or into the IHT forms without further explanation. We can also confirm the figure for a joint ownership share where a discount applies.

The report is a valuation, not a survey. It describes the condition of the property as it bears on value, but it does not investigate defects. If the beneficiaries are keeping the property and want advice on its condition, a Level 2 or Level 3 survey can be carried out on the same visit.

How it works

Quote to report, with the date of death set from the start

Quote in minutes

Tell us the property, its approximate value and the date of death. The quote arrives by email straight away, with a link to your client portal.

Terms and booking

Accept the quote and sign the terms of engagement online. We arrange access with you, the solicitor, or whoever holds the keys.

Inspection

A RICS Registered Valuer inspects the property, usually in around an hour, and gathers the comparable evidence from the date of death.

Report in 4 to 8 working days

The Red Book report is delivered by email and to your portal, signed by a RICS Registered Valuer, ready for HMRC and the grant application.

Need a valuation for a different purpose? See capital gains tax, matrimonial and Help to Buy valuations, or our commercial valuations for business premises in an estate.

Common questions

Probate valuation questions

From £475 · RICS Red Book · Report in 4 to 8 working days

Get the probate valuation sorted

Instant quote by email. No obligation. Solicitors welcome to instruct on behalf of the estate.

020 3900 3902