Re: Q on inheritance tax
- From: Gordon <Gordon@xxxxxxxxxxxxxxxxx>
- Date: Tue, 28 Mar 2006 22:50:09 +0100
Tumbleweed <thisaccountneverread@xxxxxxxxx> wrote
There are three houses for sale on my road at exactly the same asking prices, it isn't too difficult to get a rough value by this means.
Just been looking at the website, amazingly it says;
The full market value of any house owned by the deceased should be shown
>>>>although a professional valuation is not normally required<<<< (my
emphasis).
How are you meant to know the FMV without getting a professional valuation?
Looks like a situation designed to encourage fraud. What a bizzarre govt we
have.
I suppose the obvious thing to do is to get a valuation, then look on the
land registry and value it by comparison, then choose the lower value. After
all, any difference must be down to the work done on it, and the elapsed
time?
When I executed my mother's Will my sister wanted to stay in the house, so I erred on the low side for probate purposes, a reasonable thing to do, so long as it isn't a serious difference!
In our case IHT was not due, but they are certainly more 'interested' when the estate is close to, or above the limit. ;-)
--
Gordon Harris
.
- Follow-Ups:
- Re: Q on inheritance tax
- From: Tumbleweed
- Re: Q on inheritance tax
- References:
- Q on inheritance tax
- From: Tumbleweed
- Re: Q on inheritance tax
- From: Troy Steadman
- Re: Q on inheritance tax
- From: Tumbleweed
- Re: Q on inheritance tax
- From: Troy Steadman
- Re: Q on inheritance tax
- From: Tumbleweed
- Q on inheritance tax
- Prev by Date: Re: Q on inheritance tax
- Next by Date: Surface Water and Water Bills
- Previous by thread: Re: Q on inheritance tax
- Next by thread: Re: Q on inheritance tax
- Index(es):
Relevant Pages
|
|
