8. Records

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, eg 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, eg 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.