Valuations by purpose
Probate Valuations
RICS Red Book date-of-death property valuations for executors, solicitors and families navigating estate administration and Inheritance Tax.
Copping Joyce provides RICS Red Book Global probate valuations across the UK — the formal market value of property at the date of death, prepared for executors, administrators, trustees and the solicitors who advise them. Our reports are accepted by HMRC for IHT400 and IHT205 submissions and have supported the administration of estates ranging from a single residential property through to multi-jurisdictional portfolios held within trusts and corporate structures.
Date-of-death valuations for IHT400
An open market value is required at the date of death for every property in the estate, in accordance with section 160 of the Inheritance Tax Act 1984. We inspect, research comparable evidence relevant to the date of death, and produce a Red Book report identifying the property, the basis of value, the assumptions and the valuer. Where an Inheritance Tax return is not required (excepted estates / IHT205), our reports still give executors a defensible figure on which to base distributions and Capital Gains Tax base costs going forward.
Executors' duties and personal liability
Executors and personal representatives are personally liable for the figures on IHT400. HMRC expects 'reasonable steps' to ascertain market value — and a Red Book valuation from a RICS Registered Valuer is the clearest evidence that those steps have been taken. We have acted for executors challenged years after grant of probate where an estate agent's appraisal proved insufficient.
Multi-property estates and unusual assets
We routinely value mixed estates including residential, commercial, agricultural land, listed buildings, share-of-freehold flats, properties subject to long leasehold or AST tenancies, and overseas-domiciled clients with UK property. Related-property valuations under section 161 IHTA — for example, joint shares between spouses — are handled with care to avoid HMRC challenge.
Contested estates and post-death variations
Where there is a dispute between beneficiaries, an Inheritance Act claim, or a deed of variation under section 142 IHTA within two years of death, we provide independent valuations and, where necessary, expert witness reports for the courts.
Who we work with
Who needs a probate valuation
Executors and administrators
Single date-of-death reports through to portfolio estate valuations.
Probate solicitors and STEP practitioners
Reports prepared in the format your office and HMRC expect.
Trustees
10-year IHT charges, exit charges and life interest trust accounting.
Beneficiaries
Independent second opinions where the executor's valuation is in question.
Charities
Where a charity is a residual beneficiary and requires verification.
Bereaved families
Sympathetic, prompt service when probate timescales are pressing.
How it works
From instruction to signed report
- Step 1
Instruction
Brief from the executor, solicitor or family member — terms issued same working day.
- Step 2
Inspection
Discreet inspection arranged at a time that suits the family. We can collect keys from solicitors or estate agents.
- Step 3
Date-of-death analysis
Comparable evidence research focused on the date of death, not today's market.
- Step 4
Red Book report
Signed report delivered within 7–14 days, formatted for HMRC and IHT400.
FAQ
Probate Valuations — frequently asked
What is a probate valuation?
A probate valuation is a formal market value of a property at the date of death of the owner. It is used by executors to complete the Inheritance Tax forms (IHT400 or IHT205) and to support the application for Grant of Probate or Letters of Administration.
Do I need a RICS valuation for probate?
HMRC expects 'reasonable steps' to ascertain the open market value at the date of death. For estates over the nil-rate band, or where a property is being transferred between beneficiaries rather than sold, a Red Book valuation by a RICS Registered Valuer is the clearest way to discharge that duty and protect executors from personal liability.
How is a probate valuation different from an estate agent's appraisal?
An estate agent gives a marketing appraisal aimed at winning instruction. A RICS Red Book probate valuation is an independent, signed report based on comparable evidence at the date of death, with full methodology disclosed. Only the latter is reliably accepted by HMRC.
How much does a probate valuation cost?
Single residential probate valuations are charged on a fixed-fee basis. Larger or more complex estates — multiple properties, agricultural land, commercial interests — are quoted bespoke. We provide a quote within one working day of enquiry.
How quickly can you turn it around?
Most probate reports are issued within 7–14 days of inspection. We understand probate timescales are sensitive and prioritise bereavement instructions accordingly.
What happens if HMRC challenges the valuation?
Our valuers will defend the report and, where required, negotiate directly with the District Valuer. In over a century of practice this has rarely escalated, because our methodology and evidence base are designed to withstand scrutiny from the outset.
Can you value the whole estate including land and commercial property?
Yes. We value residential, commercial, agricultural land, mixed-use, listed and unusual property — all under one Red Book engagement where helpful.
Do you cover the UK?
Yes — our London, Cambridge, Manchester and Liverpool offices cover England, Wales and Scotland. Northern Ireland and overseas property are handled through our partner network.
Can the same valuation be used for Capital Gains Tax later?
Yes. The probate value becomes the CGT base cost for beneficiaries, so an accurate, well-documented date-of-death figure protects the family on future disposal.
Is the inspection sensitive to bereaved families?
Always. Our valuers attend at a time that suits the family, work quickly, and can liaise with solicitors or agents if the family prefers no direct contact at the property.
Talk to us
Instruct a probate valuation
Call 020 7749 1040 or email info@coppingjoyce.co.uk — fixed-fee quote within one working day.
Contact our valuersOther valuation purposes