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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Valuation of assets: ascertained values: liaison with Specialist PT-IHT

Where a Capital Gains Tax computation includes `probate value’, see CG32220, or `value ascertained for IHT’ as the cost of acquisition you will need to check, in accordance with the following guidance,

  • whether the value has been `ascertained’


  • if so, what the ascertained value was.

The form of the enquiry and subsequent action, will depend on the nature of the asset involved. The procedures are set out in CG32269 - CG32271. Before making any enquiry you will need to know

  • the full name of the deceased
  • the date of death

where dealing with a disposal by a legatee, details of the interest or holding acquired by the personal representatives (where this information is available to the legatee).

The guidance in CG32260 - CG32271 includes telephone numbers of offices to contact with an enquiry as to whether the value of an asset has been ascertained. Unfortunately it is not always possible to say with certainty which office will have the information. In general the information will be held by the office of Specialist PT-IHT/SAV in the country where the probate etc is obtained.