James Saunders
Joined: 8/5/2024
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Probate valuation and Capital Gains Tax
We had an estate agent give a verbal valuation of my mother's house in November 2023 at £375,000, but when we listed it another agent valued it at £425,000 and it sold for £420,000. The whole estate was well below the Inheritance Tax threshold and the higher sale price did not change this. Is there a way to report this to HMRC to use the actual sale price not the valuation price and therefore not incur any CGT? If so, how should we do this and what evidence will we need to present? Many thanks