Mylako have an array of multi-skilled RICS Regulated Valuers who conduct over a thousand probate valuations per year. Mylako are becoming the true market leaders in this area of valuation, understanding the minutia and significant technicalities of Inheritance Tax Submissions. This is why Solicitors and Executors are instructing us over and over again. At Mylako we leave our clients feeling secure that they have done all in their power to satisfy HMRC’s demands in order to avoid an investigation, whilst receiving valuation reports that are justified, as best as we can, to assist their tax positions. Instructing unqualified valuers (inc. estate agents) is becoming a thing of the past, when the stakes are so high.
WE OFFER A TRUE ONE-STOP-SHOP SOLUTION FOR YOUR PROBATE VALUATIONS WITH PROFESSIONAL VALUERS DEALING WITH BOTH THE PROPERTY AND CONTENTS ASSESSMENTS.
When faced with the loss of a loved one, the list of processes and procedures you have to deal with can seem endless. HM Revenue and Customs demand a full and accurate valuation of the deceased’s property and contents in order to levy inheritance tax. We offer a one-stop solution unlike any other Professional Valuers.
At Mylako we offer an RICS (Royal Institution of Chartered Surveyors) regulated probate property and contents valuation service, so that establishing the value of the deceased’s estate is one less thing you need to worry about at a challenging time.
Our valuation service: what is involved?
Our probate valuation service encompasses the full value of the decedent’s property. This includes an accurate evaluation of all residential and commercial property, along with contents, chattels and assets.
For probate valuation purposes, ‘property’ not only includes the value of ‘bricks and mortar’ homes, businesses and other property, but also includes personal possessions, vehicles, stocks and shares, insurance policies, bank accounts and cash reserves.
These assets need to be balanced against outstanding debts, which includes bank account overdrafts, credit card bills, mortgages, household bills and unpaid taxes. The existence of trusts, charitable donations and jointly owned property also needs to be taken into account, and further complicates the matter of arriving at definitive value.
Reconciling the two asset and debt figures will give the final probate value, which will be used by HMRC to calculate the capital gains and inheritance tax due on the decedent’s estate.
Taking the weight from your shoulders
The valuation process can be complex and involved – and so we offer our services as a trusted partner to provide an accurate valuation and liaise with HMRC on your behalf. We are a team you can rely on at a difficult time, giving you the space you need to go through the grieving process in your own way.
Our valuation team are fully versed in the intricate laws and regulations governing the probate process. We have many years proven experience of working directly with HMRC on property valuations and of providing detailed and accurate tax assessments.
We understand that the aftermath of losing a loved one is a difficult and emotionally fraught time. We are therefore committed to working with you in a sympathetic and flexible manner, to provide expert and friendly advice and to fitting our valuations around your schedule. You can trust us to provide a comprehensive valuation of all debts and assets, so you can be sure of your tax liability.
Find out more
Get in touch with one of our valuation consultants today to find out more about the probate process. For a flexible valuation appointment, send us a message through our quick enquiry form, or call us today on 020 7183 0321.