Can a Probate Valuation Be Amended

Hi everyone. I’m currently awaiting the Grant Of Probate for my late Father’s Estate. Four weeks after I submitted the Probate application, a part of the estate was purchased ( subject to probate, contract etc), which if it happened before the application was made, I would have given a higher figure than the one I gave- which at the time was suggested by the Estate Agent. We have now received a significant offer for the remainder of the Estate and this, of course. will affect the amount of CGT payable. IHT is not an issue here as we are within the threshold. Can the Probate valuation be amended at this stage, or should I explain the situation to HMRC when I submit my CGT return? Thank you. Mark

Hi,

You can amend a probate value at any time up to 2 years after the date of death and you should include details when submitting the Capital Gains Tax return.

Thank you.

Thank you so much for the clarification. Kind Regards 

Thank you for your reply. Can I just clarify; Is any amendment to the probate value done at the time the Capital Gains Tax return is submitted? Or is it actioned before Probate is granted and then reported as part of the CGT return? Thank you 

Name removed admin 

Hi Mark Taylor,

It would be before probate and then on the CGT return.

Thank you.

Thank you very much. Kind Regards

Hi There: I just put up a test post because I don't know if this system actually works or not. I have logged into the system (made an account), but it seems to be the case that I cannot make my own thread. To the email linked to this post, could somebody tell me how I can achieve that? My issue is sort of related to this topic, but it is something different.

Where does the two years to amend the probate value come from please? The legislation, S217 IHTA 84 says 6 after finding out the value was wrong and this the IHT manual reflects this at IHTM10701.

Just reread my post above it should read that the legislation and guidance say 6 months after finding out the value was wrong.

Hi
Please contact Courts and Tribunals Service Centre Telephone: 0300 303 0648 Monday to Friday, 9am to 1pm Closed on bank holidays.  Email: 
contactprobate@justice.gov.uk.

I'm not sure why you are suggesting I contact HMCTS. IHT and CGT are matters for HMRC and earlier in this thread in relation to a CGT query it was stated the probate value of a property could be amended within 2 years of date of death. I was questioning that as an amendment to the probate value may have both IHT and/or CGT implications.

Hi ex HMIT

You will need to contact the IHT helpline for this on 0300 123 1072.

Thank you

Hi - we have a query we have 2 granted probates, the first one is our late father his valuation included an investment isa, after his passing we were advised to transfer the investment into my mothers name after his death. On our mothers passing we completed a new probate valuation but only included her part of the isa value minus our fathers portion. We are now trying to draw down on the investment and have been told the value is much higher that that probated for my mother. The sum of both probates is higher than the new total investment value but obviously across two completed probates. How do we amend my mothers probate to include my fathers portion (nil rate) so the portfolio can be drawn down. after spending over two hours on hold we are no further forward today. your help would be appreciated. just to mention both will are discretionery trust wills with a letter of wishes

Hi,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.

Please let me know where the HMRC guidance for amending the probate form within 2 years from death is mentioned in the HMRC legislation. Thank you.

Hi,
Please refer to guidance here:
Change a will after a death
Thank you.