VALUATIONS FOR TAX PURPOSES

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Valuations for Tax Purposes

We undertake valuations for all purposes related to the assessment and calculation of taxation and customs duties. With the ever increasing complexities of taxation, trust and domicile regimes, accurate and up-to-date valuations have become increasingly important.

 

Inheritance Tax

We offer a complete Inheritance Tax (probate) Valuation Service for those engaged in the administration of estates. Valuations are provided at open market value  – the value for which they could be sold if a bargain were made between a willing buyer and a willing seller – and in accordance with Section 160 of the Inheritance Tax Act of 1984.

We can arrange for House Clearance and sale at local auctions. We can undertake inspections to identify any more valuable items which may be at risk, arrange for their temporary storage and advise on insurance.  We can undertake the overall management of a more complicated disposal, with items going to different relatives, others being sold by auction, with items of less value going to a subsidiary auction house, items going to charities, and possibly, even to landfill, thus reducing what can otherwise be a considerable burden of chargeable hours of the estate and a headache to the practitioner. We can provide progress reports at any stage of the process.

 

Standards

Through considerable experience of dealing with legal practitioners, we are aware of the pressures on those dealing with estates in these circumstances and aim to provide a fast turnaround of information.   Our valuers also appreciate that they may be dealing with family members in sensitive circumstances.  We operate to Service Standards which are available for inspection.