HMRC Targets Property Valuations In Inheritance Tax Returns

Property represents a significant portion of most deceased estates and it is therefore critical to ensure that the property valuations submitted to HMRC are correct. HMRC are now stepping up scrutiny of residential property valuations and this is likely to continue as the Valuation Office Agency (VOA) has now been integrated into HMRC. It is important that any Executors with significant property holdings obtain professional advice to ensure valuation figures submitted to HMRC are correct as otherwise the valuation can be challenged by HMRC with additional tax and interest becoming payable.

Goadsby are experienced in providing inheritance tax valuations both for residential and commercial property and have a large agency team to provide commercial comparables and a network of residential offices who can advise on home values.

Andrew Collinson is a Chartered Surveyor and Registered Valuer at Goadsby. He can provide both commercial and residential probate valuations and can be contacted on 01202 550103.