Probate and Inheritance Tax Valuations in Exeter and Devon

When someone dies, their executors usually need to know what the property was worth at the date of death. ClystCore provides RICS Red Book probate and inheritance tax valuations across Exeter, Devon, Cornwall, Somerset, Dorset and Wiltshire, prepared by our RICS Registered Valuer, Thomas Fallaize AssocRICS.

Why a formal valuation matters

HMRC expects property to be valued at its open market value on the date of death. An estate agent's marketing appraisal is not the same thing. A Red Book valuation is independent, explains the evidence behind the figure, and is far easier to support if HMRC or the Valuation Office Agency queries it. An accurate figure also matters for capital gains tax later, because the probate value usually becomes the beneficiaries' base cost.

What the valuation includes

• An inspection of the property, inside and out. We can usually arrange access through the solicitor, the family or a key holder.
• Market value at the date of death, even where that was some months or years ago.
• Comparable sales evidence and a clear explanation of how we reached the figure.
• A report prepared to the RICS Valuation Global Standards (the Red Book), suitable for the inheritance tax return and for HMRC.

Who we work with

We act for executors and administrators directly, and for solicitors and accountants handling estates. If the property is to be sold, we can also tell you about its condition and anything that might affect a sale.

Where we work

We value homes across Exeter and all of Devon, including East, North, South and West Devon, Torbay and Plymouth, and across Cornwall, Somerset, Dorset and Wiltshire.

Common questions

Can you value a property as at a past date?

Yes. Retrospective valuations at the date of death are routine. We use sales evidence from around that date and the property's condition at the time, as far as it can be established.

How long does it take?

Once we have access, the inspection is usually short, and the report normally follows within a few working days. Tell us if there is a deadline.

Is an estate agent's valuation enough?

For low-value estates some executors use one, but it is not prepared to the Red Book standard and may be harder to defend if HMRC asks questions.

Other valuations we carry out

• Matrimonial and divorce valuations
• Help to Buy and shared ownership valuations
• Capital gains tax and retrospective valuations
• All RICS Red Book valuations

Request a valuation

Tell us the property, the purpose of the valuation and any deadline. Request a Red Book valuation online, email info@clystcore.com or call us on 01392 933392.