Is it possible to have the property value amended with HMRC after the Grant of Probate has been issued?
As executor to my father's estate I genuinely made an error in believing his property was worth £120k (which I declared at the time) when in fact it is worth £250k.
Even with a £130k increase, the total of his whole estate is less than £300k so still well below the IHT threshold.
Do I need to let HMRC know or would they not be interested?
The property is empty and has been since his death in August. It is due to be sold in the next month with the proceeds issued to the beneficiaries of his will.
Any guidance would be appreciated as I'm not sure what to do.
Kind regards
Danny
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