Inheritance Tax ValuationsInheritance Tax

A tax on the value of a person’s estate on death and on certain gifts made by an individual during their lifetime. Source HMRC

Inheritance Tax is the tax that is paid on your ‘estate’ after your death minus any financial obligations that you have. Property is usually a large part of the estate and may take the estate over the property tax threshold. Pinta Investments is well versed in the obligations you have during this difficult time and they can guide you on the process when carrying out the property inheritance tax valuations.

This evaluation will look at the market value of the property, or properties defined under section 160 of the Inheritance Tax Act 1984. Firstly it is necessary to submit to the Inland Revenue the market value of any property at the date of death to receive probate.

If an amount is suspiciously low the tax man can challenge this and in 2011-2012, they raised 88 million from ‘adjusting’ property inheritance tax valuations up 18 million from the year before. Source: The Guardian

“When someone dies, any land and buildings they own – or sometimes live in rent-free – are part of their estate for Inheritance Tax. To make sure you get an accurate valuation, you should use a professional valuer. The valuation should reflect the value at the time of death”. Source: HMRC

Let Pinta Investments take away any unnecessary stress with our property inheritance tax valuation. We can offer a quick and accurate turnaround for you to submit to the Inland Revenue. Contact Us now.