Probate valuations are the speciality of Bainbridges
We undertake a high number of probate valuations each year, mainly in the greater London area and Middlesex but also Europe.
The Capital Taxes Office require that, along with the rest of a deceased’s assets, the contents of their properties are valued as at the time of death.
To comply with S. 160 of The Inheritance Tax Act 1984 all specific bequests mentioned in the will, or in a codicil to the will, need to be valued individually, whatever their worth, and individual items or a collection of items valued at or above £500 need to be listed separately. The Capital Taxes Office like jewellery to be valued separately. Items of lower value might be grouped as a statement. However, antiques will be kept separate from general effects. Motor cars need to be valued separately also.
The valuation is set at open market prices as at the time of death.
The fee is £95 + VAT per hour for each specialist, this includes travel, the visit, any research and the report.
The minimum fee is £195 + VAT and for small local jobs this is frequently the amount billed.
As specialists in probate we might also be asked to arrange the delivery of items bequeathed in the will. This can involve any size of item to any country in the world. Our service continues, to include full clearance of the property either into our auction room, to charity or to the dump. We auction all subjects and do particularly well with paintings, silver, jewellery,ceramics, alcohol- particularly single malt whisky, fine wines and champagne (including single bottles) and vintage fashion and accessories including good fur coats.
To book an appointment ring 01895 621991 Or Email enquiries@bainbridgesauctions.com
Our consultant valuers cover all subjects.
