As part of applying for probate , you need to find out if there’s any Inheritance Tax to pay. To find this out, you need to value the money, property and possessions (‘estate’) of the person who’s died. You do not need probate for all estates. Check if you need it . This guide is also available in Welsh (Cymraeg) . You need to complete 3 main tasks when you value the estate. Contact organisations such as banks or utility providers about the person’s assets and debts. Estimate the estate’s value . This will affect how you report the value to HM Revenue and Customs (HMRC), and the deadlines for reporting and paying any Inheritance Tax. Most estates are not taxed. Report the value of the estate to HMRC by either completing form IHT205 if there’s no Inheritance Tax to pay or form IHT400 if there’s Inheritance Tax to pay . How long it takes The process of valuing the estate can take 6 to 9 months, or longer for big or complicated estates (for example if they involve trusts or there’s tax to pay). Deadlines You do not need to value the estate straight away after someone dies. There are only deadlines if the estate owes Inheritance Tax. If it does, you’ll need to: send Inheritance Tax forms within one year start paying tax by the end of the sixth month after the person died - you can make a payment before you finish valuing the estate Getting help You can hire a professional (for example a solicitor) to help with some or all of the tasks involved with valuing an estate. Money Helper has guidance on when and how to hire a professional . Law Donut has advice on keeping solicitors’ fees down .

Contact organisations about assets and debts

To help you value the estate of the person who died, write to organisations to find out about the person’s: assets, for example banks and pension providers debts, such as utility companies, mortgage lenders and credit card companies In your letter: ask for the value of the asset or debt when the person died include a copy of the death certificate Which organisations to contact Find organisations to contact about the person’s assets and debts by searching through their papers. You can also ask friends, family and any solicitor or accountant they had. Organisations that hold a person’s assets often include: their bank their pension provider - ask if you should include any private pension when you value the estate their employer - the person may be owed wages any companies they held shares in - include the number of shares, company details and the share certificate number (if you have it) National Savings and Investments (NS&I) for Premium Bonds - use the free tracing service if you cannot find certificates other organisations that hold assets like ISAs, shares, investments or assets in a trust their landlord, if they had one - the person may have paid rent in advance In your letter to the bank, also ask for: any standing orders and direct debits to be stopped (or transferred if they were in a joint name) a list of any share certificates or deeds they were holding for the person who died If the person had a mortgage Ask the mortgage lender if they require payments to continue while you’re applying for probate. If they do, you need to either: pay these bills yourself - and reclaim them from the estate once you’ve got probate check if the person had a life assurance or mortgage protection policy that covers these payments

Estimate the estate’s value

You need an estimate of the estate’s value to find out if there’s Inheritance Tax to pay. The estate will not have to pay tax as long as one of the following applies: it all passes to the spouse or civil partner of the person who died it all passes to a charity or a community amateur sports club it has a value below the Inheritance Tax threshold of £325,000 If the person who died was widowed or is giving away their home to their children, the tax threshold can be higher . Working out your estimate You need to estimate the total value of the estate. This includes: the value of the things the person owned - their assets any gifts they made, such as cash or items of value, in the 7 years before they died the value of any trusts where the person had a beneficial interest At this stage, your estimate only needs to be accurate enough for you to know if the estate owes tax. You’ll need accurate valuations if the estate owes any tax. You can work out the estimate yourself or you can use the Inheritance Tax checker. Use the online Inheritance Tax checker The checker will: give you an approximate value of the estate help you decide whether any Inheritance Tax is likely to be due or not The checker does not: calculate the amount of Inheritance Tax that’s owed tell HMRC about the estate’s final value Start now Before you start You’ll need the following information to estimate the estate’s value: details of the person’s assets, including joint assets details of any gifts they made Valuing the assets Start by listing the person’s assets - the things the person owned with a monetary value. These may include: their home any other properties, buildings or land money in banks, building societies or ISAs or cash in their home stocks and shares household and personal items, including furniture, paintings and jewellery cars, caravans or boats foreign assets, such as property abroad money they’re owed, for example wages or refunds from household bills payments when they died, for example life insurance or a lump sum ‘death benefit’ from a pension Then estimate the value of each on the date the person died. For items such as jewellery or paintings, work out how much you would have got if you’d sold them on the open market. Include all assets in your estimate. This includes any left to the person’s spouse, civil partner or a charity - you will not pay tax on these assets. Valuing joint assets You need to find out what assets the person owned with someone else and how they were owned. The rules for valuing joint assets, such as property, jewellery or paintings, are different depending on whether they were owned as: ‘joint tenants’ (known as ‘joint owners’ in Scotland) ‘tenants in common’ (known as ‘common owners’ in Scotland) Joint tenants Joint tenants automatically pass on any assets, such as land or property, to the other owners if one of them dies. If the asset, such as land or property, was owned as a joint tenant with the person’s spouse or civil partner, divide the value of the asset by 2. If land or property was owned with other joint tenants, for example friends or siblings, do both of the following: divide the value by the number of owners take 10% from the share of the person who died Example The deceased owned a property as a joint tenant with 3 other people. The property is worth £200,000 on the date they died, giving them a £50,000 share (£200,000 divided by 4). After 10% (£5,000) is deducted from the deceased’s £50,000 share, the final value is £45,000 (£50,000 - £5,000 = £45,000). In Scotland, if land or property was owned jointly with others (excluding a spouse or civil partner), take £4,000 off the value of the whole asset before working out the deceased’s share. Example The deceased owned a property in Scotland as a joint tenant with 3 other people. The property is worth £200,000 on the date they died. After £4,000 is taken away from the total value of the property, this leaves £196,000 (£200,000 - £4,000). When divided by the number of owners, the deceased’s share of the property is £49,000 (£196,000 divided by 4). To value a joint bank account, divide the amount by the number of account holders, unless it’s in joint names for convenience only. For example, an older person may add their child to help them with the account. If so, use the amount the deceased actually owned instead. Tenants in common The rules are different for tenants in common as they do not automatically pass on any assets they jointly own. If the deceased jointly owned property or land as a tenant in common, work out the value based on their share. Working out the value of any gifts You need to work out the value of any gifts made by the person who died. Gifts only count towards the value of an estate if they were made in the 7 years before the person died and the total value of the gifts was over the £3,000 annual exemption . If a person lives for 7 years after making a gift, there’s no Inheritance Tax to pay. Any gift a person continued to benefit from before they died also counts towards the value of an estate - for example, if they gave away a house but lived in it rent-free (known as a ‘gift with reservation’ ). There’s no Inheritance Tax to pay on gifts to charities or political parties. What counts as a gift A gift can include: money household and personal goods, for example, furniture, jewellery or antiques a house, land or buildings stocks and shares listed on the London Stock Exchange unlisted shares held for less than 2 years before the person’s death Checking for gifts You can check for gifts by: going through bank statements talking to family members looking through financial documents Record the value of any gift and the date it was made. Estimate the gift’s value To estimate the value of each gift, use either: the approximate value of the gift at the time it was made (realistic selling price) the realistic selling price of the gift if the deceased continued to benefit from the gift after giving it away (a ‘gift with reservation’) Debts Do not include the estate’s debts when you estimate the gross value. You will however need to tell HM Revenue and Customs ( HMRC ) about any debts when you report the value of the estate. Check for records of debts when the person died, for example: their mortgage, loans, credit cards or overdrafts ‘liabilities’ like household bills or bills for goods or services they’d received but not yet paid for (like building work, decorators, accountants) Tell HMRC about the value of the estate How you tell HMRC about the value of the estate depends on whether there’s: no Inheritance Tax to pay Inheritance Tax to pay

If there’s no Inheritance Tax to pay or it's an excepted estate

Report the value of the estate to HM Revenue and Customs ( HMRC ) by completing form IHT205 if the value of the estate is below the current Inheritance Tax threshold . This is known as an ‘excepted estate’. There’s a different process if the deceased lived in Scotland . Also complete this form if either of the following are true: everything was left to a surviving spouse or civil partner, or to charity and the estate was worth less than £1 million the estate is worth £650,000 or less and the full unused Inheritance Tax threshold has been transferred from a spouse or civil partner who died first You do not need to complete form IHT205 if both the following apply: there’s no Inheritance Tax to pay you do not need probate You’ll need to complete a different form (IHT400) if the person who died gave away over £150,000 in the 7 years before they died or inherited part of the Inheritance Tax threshold from a previous spouse or civil partner. Report the value of the estate online If the deceased lived in England or Wales, you can register the estate and complete form IHT205 online. Start now You can also continue a form you’ve already started . If you need help completing the online form Contact HMRC ’s Probate helpline for help with completing the online version of form IHT205. Applying for probate if you’ve completed the online form You can apply for probate as soon as you’ve submitted the online form. You’ll get an Inheritance Tax identifier number, which you need to include when you apply for probate. Report the value of the estate by completing a paper IHT205 form You need to download and complete a paper form if any of the following apply: the deceased lived in Northern Ireland you’re an agent completing the form for a client you’re not able to report the estate value online If you need help completing the paper form Contact HMRC ’s Probate helpline for help with completing the paper version of form IHT205. Where to send the form If the deceased lived in England or Wales, send the IHT205 form to: HMCTS Probate PO Box 12625 Harlow CM20 9QE If the deceased lived in Northern Ireland, send the form to: The Probate Office Royal Courts of Justice Chichester Street Belfast BT1 3JF Applying for probate if you’ve completed the paper form How you apply for probate depends on whether you apply for probate online or by post. If you apply for probate online, you need to complete the probate form before you submit the IHT205 form. Once you’ve completed the probate form, you’ll be given a 16-digit reference number which you need to include when you send the IHT205 paper form. If you apply for probate by post, you need to send the completed probate form together with the IHT205 form. There’s a different process for applying for probate in Northern Ireland .

If there’s Inheritance Tax to pay

You must report the value of the estate to HM Revenue and Customs ( HMRC ) by completing form IHT400 if the value of the estate is above the current Inheritance Tax threshold . You must also complete form IHT400 if the person who died: gave away over £150,000 in the 7 years before they died gave gifts then continued to benefit from them in the 7 years before they died inherited part of the Inheritance Tax threshold from a previous spouse or civil partner had foreign assets worth more than £100,000 held assets worth over £150,000 in trust You must submit the form within 12 months of the person dying. Working out the estate’s net value Before you report the value to HMRC , you need to work out the estate’s detailed net value. This is the estate’s total or gross value minus any debts or reliefs, such as Business Relief or Agricultural Relief . To calculate the estate’s net value add the value of the things the person owned (their assets) to any gifts they made in the 7 years before they died. Then take away any debts or reliefs. Getting accurate valuations You can get any property or land valued by an estate agent or chartered surveyor. You can also get a professional valuation for anything worth over £1,500. For ordinary household goods and personal items such as furniture, paintings, jewellery and electrical items, you can estimate their value. Report the value of the estate by completing form IHT400 You need to download and complete form IHT400 . Send it to the address on the form. You can read guidance on how to complete form IHT400 . You can ask HMRC to work out how much Inheritance Tax is due if you’re filling in the form without the help of a probate professional, such as a solicitor. You can do this when you fill in the form. If you need help completing the form Contact HMRC ’s Inheritance Tax helpline for help with completing form IHT400. How to amend a form after it’s been submitted You need to fill in a corrective account form and send it to HMRC if you need to make any changes to information you’ve already submitted. Paying Inheritance Tax You must pay Inheritance Tax by the end of the sixth month after the person died. For example, if the person died in January, you must pay Inheritance Tax by 31 July. You can pay in yearly instalments on certain things that may take time to sell, such as a house. You’ll need to get an Inheritance Tax reference number from HM Revenue and Customs ( HMRC ) at least 3 weeks before paying any tax. When you can apply for probate Once you’ve sent your completed IHT400 form to HMRC , you need to wait 20 working days before you can apply for probate .

You must keep certain records after you value an estate. HM Revenue and Customs (HMRC) can ask to see your records up to 20 years after Inheritance Tax is paid. You must keep copies of any: will copies of signed Inheritance Tax forms and supporting documents records showing how you worked out the value of assets in the estate, for example an estate agent’s valuation documents showing any unused Inheritance Tax threshold that can be transferred to a surviving spouse or civil partner final accounts Final accounts Include any documents showing how you distributed money, property or personal belongings from the estate, for example: letters from HMRC confirming that you paid Inheritance Tax receipts showing debts paid, for example utilities bills receipts for your expenses from dealing with the estate written confirmation that ‘beneficiaries’ (anyone who inherited) received their share of the estate Send copies of the final accounts to all beneficiaries.

Valuing the estate of someone who's died

What you need to do

As part of applying for probate, you need to find out if there’s any Inheritance Tax to pay. To find this out, you need to value the money, property and possessions (‘estate’) of the person who’s died.

You do not need probate for all estates. Check if you need it.

This guide is also available in Welsh (Cymraeg).

You need to complete 3 main tasks when you value the estate.

Contact organisations such as banks or utility providers about the person’s assets and debts.
Estimate the estate’s value. This will affect how you report the value to HM Revenue and Customs (HMRC), and the deadlines for reporting and paying any Inheritance Tax. Most estates are not taxed.
Report the value of the estate to HMRC by either completing form IHT205 if there’s no Inheritance Tax to pay or form IHT400 if there’s Inheritance Tax to pay.

How long it takes

The process of valuing the estate can take 6 to 9 months, or longer for big or complicated estates (for example if they involve trusts or there’s tax to pay).

Deadlines

You do not need to value the estate straight away after someone dies. There are only deadlines if the estate owes Inheritance Tax.

If it does, you’ll need to:

send Inheritance Tax forms within one year
start paying tax by the end of the sixth month after the person died - you can make a payment before you finish valuing the estate

Getting help

You can hire a professional (for example a solicitor) to help with some or all of the tasks involved with valuing an estate.

Money Helper has guidance on when and how to hire a professional. Law Donut has advice on keeping solicitors’ fees down.

Print entire guide

Step 1 Register the death
1. Register the death within 5 days
Check what to do if:
To stop or change benefits payments you can tell the Department for Work and Pensions (DWP) about the death straight away.
Step 2 Arrange the funeral
Step 3 Tell government about the death
The Tell Us Once service allows you to inform all the relevant government departments when someone dies.
1. Use the Tell Us Once service to tell government
2. If you cannot use Tell Us Once, tell government yourself
You'll also need to tell banks, utility companies, and landlords or housing associations yourself.
Step 4 Check if you can get bereavement benefits
You might be eligible for financial help.

Check if you can get:
- Bereavement Support Payment if your spouse or civil partner has died
- Guardian's Allowance if you're bringing up a child whose parents have died
and Deal with your own benefits, pension and taxes
Your tax, benefit claims and pension might change depending on your relationship with the person who died.
1. Manage your tax, pensions and benefits if your spouse has died
2. Check how benefits are affected if a child dies
and Check if you need to apply to stay in the UK
If your right to live in the UK depends on your relationship with someone who died you might need to apply for a new visa.

Check the rules if:
- you're in the UK as the partner of a British Citizen or someone with indefinite leave to remain
- your partner who died served as a member of HM Forces
1. Contact UKVI to check the rules for other visas
Step 5 Deal with their estate
You might have to deal with the will, money and property of the person who's died if you're a close friend or relative, or the executor of the will.

Valuing the estate of someone who's died

What you need to do

How long it takes

Deadlines

Getting help

Step 1 Register the death

Step 2 Arrange the funeral

Step 3 Tell government about the death

Step 4 Check if you can get bereavement benefits

and Deal with your own benefits, pension and taxes

and Check if you need to apply to stay in the UK

Step 5 Deal with their estate

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Valuing the estate of someone who's died

What you need to do

How long it takes

Deadlines

Getting help

Part of What to do when someone dies: step by step

Step 1: Register the death

Step 2: Arrange the funeral

Step 3: Tell government about the death

Step 4: Check if you can get bereavement benefits

and Deal with your own benefits, pension and taxes

and Check if you need to apply to stay in the UK

Step 5: Deal with their estate

Is this page useful?

Help us improve GOV.UK

Help us improve GOV.UK

Step 1 Register the death

Step 2 Arrange the funeral

Step 3 Tell government about the death

Step 4 Check if you can get bereavement benefits

Step 5 Deal with their estate