Probate valuation

My father died 3 years ago, but my brother (the executor) is only now going through the probate procedure. I wanted to know if a probate value we were provided with from an estate agent a month after he died is sufficient for both the probate procedure and any future capital gains tax calculations. If it isn't what will we need to provide?

Hi

The probate value, is the court agreed value of the asset at the time of your father's death.  This is used for inheritance tax purposes by the estate and for capital gains tax purposes.  
To work out if there is a capital gain, subtract the probate value and disposal costs from the disposal value.  If you are left with a positive number, there is a capital gain.  
Disposals of residential property should be reported and capital gains tax paid within 60 days of the completion date.  Have a look at the guidance at Tax when you sell property.

Thank you