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HMRC internal manual

Capital Gains Manual

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: meaning of `ascertained'

A value cannot be regarded as `ascertained’ unless Specialist PT - Trusts and Estates IHT have used that valuation in order to arrive at a final charge to Inheritance Tax and the precise amount of the liability was dependent on that valuation.  Furthermore in cases where the liability to IHT is relatively small, in order to avoid the need for expensive valuations which have little effect, Specialist PT – Trusts and Estates IHT may make it clear to the personal representatives or agents that the value has not been agreed, and therefore has not been ‘ascertained’.