CG32265 - Death and Personal Representatives: Valuation of assets at date of death and associated liaison with Specialist PT-IHT: Ascertained values: Valuation of assets: ascertained values: assistance with valuations

Unlisted shares

If you need to check a valuation you can contact  BAI Shares and Assets Valuation. You should also provide:

  • the full name of the deceased
  • the date of death
  • details of the asset involved
  • your own name, office and telephone number, and taxpayer reference.

Ask whether the value was ascertained for IHT purposes, and if so what the ascertained value was. You will be given a return call with the information, usually by the end of the next working day.

Where you are told that the value was ascertained, and the value agrees with the figure used in the computation (after any adjustment to reflect a part share or holding of the asset see CG32230) you may accept the value in the computation. Where the ascertained value differs from that in the computation, you should make appropriate enquiries to reconcile the discrepancy.

If the disposal is by a legatee and his or her interest is less than the interest acquired by the personal representatives (or may be but you do not have full information) this point should be brought to the attention of Shares and Assets Valuation. They should be requested to provide the value for the full interest acquired by the personal representatives (and details of the size of that interest if you do not have that latter information).

Other assets

You can find out if the value of an asset has been ascertained by contacting HMRC- IHT. You should contactl HMRC- Trusts and Estates IHT, and give

  • the full name of the deceased
  • the date of death
  • a clear description of the asset involved.

They have to retrieve files from an off-site store. For requests made in December and January they cannot guarantee that they will be able to respond in time to inform your decision as to whether to open an enquiry.

Where you are told that the value was ascertained, and the value agrees with the figure used in the computation (after any adjustment to reflect a part share or holding of the asset see CG32230) you may accept the value in the computation. Where the ascertained value differs from that in the computation, you should make appropriate enquiries to reconcile the discrepancy.