Deduct commissions and costs from IHT valuation

HMRC guidance says that when calculating IHT on shares etc you should take the close price on the date of death (and multiple by the number of shares) to provide the valuation for IHT calculations. Suppose I’m calculating the IHT on 1000 shares at £1 each that’s £1000, however I won’t actually see this money in full irrespective of changes in the market because my broker will want £50 brokerage fee, then there’s £60 fine for not having the original certificate, and other unavoidable fees. Can one discount these fees from the valuation so IHT would be calculated in this example, on £890 rather than £1000?

Hi,

Please contact the Inheritance Tax team for advice.

Inheritance Tax: general enquiries

Thank you.

The answer is no. Not sure why I had to sit on the phone for an hour to get that answer rather than just being told that here.