HMRC challenges to probate valuation

[professor555]

Probate on mother-in-law's estate granted 12 months ago. Estate includes, but is not limited to, her former home shared as TIC with my wife. Shared ownership set up many years ago. We handled probate ourselves but big-firm solicitor who wrote the will seems to think we should expect/await formal letter from HMRC accepting our valuation of property (over which we took proper diligence), and effectively signing off our homework. Neither here or on other forums can I find any mention of such practice by HMRC. Maybe it's something they only do when solicitors act as executors ? We are reluctant to sell the property and divide the proceeds until we have clarity, not least since in the event of HMRC imposing a revaluation we would not be confident of 'sharing' the cost retrospectively amongst all the beneficiaries. Meanwhile, and not unreasonably, they're getting restless.

All guidance appreciated.

[AGoodman]

It's called a clearance certificate - You submit IHT30.

It doesn't stop you selling the property - just don't transfer away 100% of the funds while there is a risk of a little more IHT.

[professor555]

Belated thanks, AG. Does this mean that you don't get one unless you ask ? A colleague tells me he was promised one, in writing, 10 years ago and is still waiting ..

[AGoodman]

I don't believe so, no.

In some circumstances you may get a letter with a similar effect but I'm not sure if this is correct or the circumstances in which HMRC send them out.

[maths]

Once HMRC are satisfied that the full IHT is paid and there are no other outstanding matters, since 2007 HMRC would normally issue a letter an SL124 (not a stamped IHT30).

However, there is nothing to stop you trying to expedite the process by lodging an IHT 30.