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Forum > Property > Property and land valuation
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Date Posted:
27-Aug-2013 14:54:03
Property and land valuation

When providing a value of land and buildings, for Inheritance Tax and probate purposes, it should be the ‘open market value’. This is the amount that you could reasonably expect to receive. This is different to the amount you would put a house on the market for, as this is the most you would expect to receive. A surveyor or estate agent should be told that you would like an ‘open market value’ before they make their valuation. When paying Inheritance Tax, HMRC will require a detailed valuation.
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