Date of Death Valuation
A retrospective RICS Red Book valuation of residential property as at the date of death — providing the formal market value required by HMRC for probate, inheritance tax and the administration of the deceased's estate.
When a property owner passes away, HMRC requires the value of their property as at the date of death to calculate any inheritance tax (IHT) due. This valuation must be supported by comparable evidence from the relevant period — not current market conditions. Our RICS Registered Valuers research the property market as it was at the date of death, identify comparable sales from that period, and produce a formal Red Book valuation report suitable for submission with the IHT400 and IHT405 forms. Whether the death was recent or many years ago, we can produce a robust, defensible retrospective valuation.
Date of Death Valuation Report
Our Home Surveyor & Property Valuer Accreditation & Professional Membership
Our Date of Death Valuations are carried out by qualified surveyors who belong to the professional bodies that set UK property standards. Every report is prepared to recognised guidance and is completely independent, so you can rely on the findings when you buy, sell or value a home.
What Is a Date of Death Valuation?
A date of death valuation (sometimes called a retrospective probate valuation) is a formal RICS Red Book valuation of a residential property as at a specific date in the past — the date on which the property owner died. Unlike a current market valuation, which assesses the property's value at today's date, a date of death valuation requires the valuer to research and analyse the property market as it existed at the date of death — which may be months or years in the past. The valuer must identify comparable sales from that period, assess market conditions prevailing at that time, and arrive at a professional opinion of the property's market value as at the valuation date. This valuation is required by HMRC for the completion of inheritance tax returns (forms IHT400 and IHT405) and by the Probate Registry for an application for a grant of probate or letters of administration. It is also used by the executors or administrators of the estate to establish the value of the estate for distribution to beneficiaries and for capital gains tax base-cost purposes.
What It Covers
- A retrospective market value assessment as at the specified date of death
- Research and analysis of comparable sales from the valuation date period
- Assessment of market conditions prevailing at the date of death
- Property description and accommodation schedule as at the valuation date
- A professional opinion of market value signed by an RICS Registered Valuer
- RICS Red Book compliant report suitable for submission to HMRC
- Formal report for IHT400 (Inheritance Tax Account) and IHT405 (Schedule of Property)
- Valuation for any subsequent date — for example, where the property was sold by the executors at a different date
What It Does Not Cover
- The value of the property at today's date — this is a different valuation (a current market valuation)
- A valuation of the property's contents, furniture, personal possessions or chattels
- Advice on inheritance tax planning, exemptions or reliefs — that is the role of a solicitor or tax adviser
- A valuation of non-property assets such as shares, investments, business interests or personal effects
- Advice on the administration or distribution of the estate
When Is a Date of Death Valuation Required?
A date of death valuation is required whenever a deceased person's estate includes residential property and the value of that property must be reported to HMRC for inheritance tax purposes.
Suitable For
- Completion of HMRC form IHT400 (Inheritance Tax Account) where the estate includes property
- Completion of HMRC form IHT405 (Houses, Land and Buildings Schedule) detailing property assets
- Applications for a grant of probate where the estate is subject to inheritance tax
- Estates where no IHT is payable but a formal valuation is required for the probate application
- Establishing the base cost of property for future capital gains tax calculations (CGT on a subsequent sale by the beneficiaries)
- Estates where the property was sold by the executors after the date of death and the sale price must be compared to the probate value
- Deeds of variation and post-death estate planning where the value as at the date of death is the reference point
Not Suitable For
- An estate that owns no property — only property valuation is within our expertise
- A valuation as at the date of the probate application rather than the date of death — these are different dates and require separate valuations
Not sure which probate valuation you need? Speak to a surveyor for free, confidential advice — we can explain the difference between a date of death and date of probate valuation.
What Is Included in a Date of Death Valuation?
Our retrospective valuations are prepared to the rigorous standards required by HMRC and the Probate Registry.
RICS Red Book Compliant
Prepared in strict accordance with the RICS Valuation — Global Standards (the 'Red Book'), ensuring the valuation meets HMRC's expectations for a formal, professional valuation for inheritance tax purposes.
Prepared by an RICS Registered Valuer
Your valuation is personally prepared and signed by an RICS Registered Valuer — a chartered surveyor with the qualifications and expertise that HMRC expects for IHT property valuations.
Retrospective Market Analysis
We research and analyse the property market as it existed at the date of death — not as it is today. This includes identifying comparable sales from that period using Land Registry historical data and archived market intelligence.
Comparable Sales from the Valuation Date
The valuation is supported by evidence of sales of comparable properties that completed close to the date of death. We identify, verify and analyse these comparables, adjusting for differences to arrive at a market-evidence-based opinion.
Accepted by HMRC
Our Red Book date of death valuations are accepted by HMRC for IHT400 and IHT405 filings. The report sets out the valuer's qualifications, the basis of valuation, the methodology and the comparable evidence relied upon — all of which HMRC expects to see.
Establishes CGT Base Cost
The date of death value becomes the base cost for capital gains tax purposes if the beneficiaries subsequently sell the property. A properly prepared, professional valuation protects the beneficiaries from unnecessary CGT liability.
Suitable for Any Date — Recent or Historic
We can provide retrospective valuations for any date — whether the death was last month, last year or many years ago. The further back the date, the more challenging the comparable evidence, but our research capabilities allow us to reach a robust opinion.
Fixed Pricing
We provide a fixed-price quote within 24 hours of your enquiry. The price we quote is the price you pay — no hidden extras and no VAT added to our fees. We appreciate that probate is a difficult time and aim to make the valuation process as straightforward as possible.
How the Date of Death Valuation Process Works
From enquiry to HMRC-ready report — a methodical process based on historical market research.
Get a Quote
Tell us the property address and the date of death. We respond within 24 hours with a fixed-price quote. If the date of death is many years ago, we will advise on the feasibility of a robust valuation.
Research Period Market
The valuer researches the property market as it existed at the date of death — comparable sales, market conditions, mortgage availability, and any relevant local factors from that period.
Inspect the Property
The valuer inspects the property (if still available) to assess its condition, accommodation and specification. For very old dates, we may need to rely on historical records, photographs and descriptions.
Receive Report
Your retrospective Red Book valuation report is delivered within 5–10 working days — ready for submission with the IHT400 and IHT405 forms to HMRC and the Probate Registry.
What We Need From You
- The full address of the property to be valued
- The exact date of death (the valuation date)
- Confirmation of the deceased's interest in the property — sole owner, joint tenant or tenant in common
- Any information about significant alterations or improvements made to the property before the date of death
- The date of any sale of the property by the executors (if it has already been sold) — we may also need to provide a valuation as at the date of sale
- Contact details for the executor, administrator or solicitor handling the estate
Our Valuation Methodology
Retrospective valuation requires a different approach from current market valuation — our methodology is designed to produce a robust, defensible opinion of value as at a past date.
Historical Comparable Sales Analysis
Unlike a current valuation that uses recent comparable sales, a retrospective valuation requires us to identify sales completed close to the date of death — which may be years in the past. We use Land Registry Price Paid Data, HMLR historical records, archived estate agency data and our own records. Each comparable is verified and adjusted for differences in size, condition, location and specification as at the valuation date.
Market Conditions at the Valuation Date
Property market conditions can change significantly over time. We research and apply the conditions prevailing at the date of death — including transaction volumes, average sale prices, mortgage interest rates, lending criteria, economic conditions and any local factors (such as new infrastructure or development) that affected values at that time.
Property Condition at the Valuation Date
The property's condition at the date of death may differ from its condition today. We take into account any material alterations, improvements or deterioration that occurred between the valuation date and the inspection date. If the property has been significantly altered since the date of death, we may need to rely on historical photographs, records or witness evidence of its condition at the valuation date.
RICS Red Book Compliance for Retrospective Valuations
The Red Book (specifically VPS 3 and VPGA 6) provides guidance on retrospective valuations. Our reports comply fully, including: clear identification of the valuation date and the basis of value; disclosure of the extent of investigations; explanation of the methodology; and an appropriate statement on valuation uncertainty (which is particularly relevant for retrospective valuations where the market evidence may be less complete than for current valuations).
Date of Death Valuation Questions
Why does HMRC require a date of death valuation rather than a current market valuation?
Inheritance tax (IHT) is calculated based on the value of the deceased's estate at the date of death — not at the date the IHT return is filed. The property market can move significantly between the date of death and the date the executors get around to filing the IHT return, and HMRC needs to know the value as it stood on the date of death to calculate the correct IHT liability. A current market valuation would not reflect that value. If the property has increased in value since the date of death, an IHT valuation based on the current higher value would result in the estate paying more inheritance tax than is actually due.
What if the date of death was many years ago — can you still provide a valuation?
Yes, we can provide retrospective valuations for any date, although the further back we go, the more challenging the comparable evidence becomes. Land Registry sold price data is available from 1995 onwards (and from 2000 for full coverage), and we have access to historical market data, archived estate agency records and our own research databases. For dates beyond the range of available data, we will advise on what is feasible. The report will include an appropriate statement on valuation uncertainty where historical evidence is less complete than for a current valuation.
What if the property has been altered or improved since the date of death?
We value the property as at the date of death, in the condition it was in at that date — not as it appears today. If the property has been altered, extended or improved since the date of death, we need to understand what it was like at the valuation date. Historical photographs, planning records, building regulation records and witness evidence (from family members, neighbours or the executors) can help us understand the property's condition at the date of death. If reliable evidence of the property's condition at the valuation date is unavailable, we will state this in the report and apply appropriate caveats.
What is the difference between a date of death valuation and a probate valuation?
A probate valuation is the broader term for any valuation prepared for probate and estate administration purposes. A date of death valuation is a specific type of probate valuation — it values the property as at the date the owner died. In some cases, the executors may also need a valuation as at the date of the grant of probate (the date the court formally authorises the executors to administer the estate) or as at the date the property was sold by the executors. These are different valuation dates with potentially different values. We can provide valuations for any of these dates — just tell us which date(s) you need.
Does the date of death value become the base cost for capital gains tax when the beneficiaries sell?
Yes. When a beneficiary inherits a property and later sells it, their capital gains tax (CGT) base cost is the market value at the date of death (for inheritance tax purposes). If the property is sold for more than the probate value, the difference is subject to CGT (subject to any available reliefs and allowances). This is one reason why it is important to have a proper, professionally prepared valuation — if HMRC later challenges the probate value, the CGT implications can be significant. Our Red Book valuation provides a robust, defensible base cost that beneficiaries can rely upon.
Do I need an internal inspection for a date of death valuation?
HMRC expects the valuation to be based on a proper inspection unless there are good reasons why this is not possible. We will inspect the property internally wherever possible — even if the valuation date was some time ago, the physical structure and accommodation will usually be similar (unless major alterations have been made). If an internal inspection is not possible — for example, because the property has been sold and the new owner refuses access — we can provide an external-only valuation (sometimes called a 'drive-by valuation'), but the report will note the limitations and the opinion may carry more uncertainty. We will advise on the most appropriate approach based on the circumstances.
How much does a date of death valuation cost?
The cost depends on the property type, size, location and the complexity of the retrospective research required. Generally, the further back the valuation date, the more research is involved. We provide a fixed-price quote within 24 hours of your enquiry — the price we quote is the price you pay, with no hidden extras and no VAT added to our fees. We understand that probate is a difficult and often stressful time, and we aim to make the valuation process as straightforward as possible. We cover all seven counties: Bedfordshire, Buckinghamshire, Cambridgeshire, Hertfordshire, Northamptonshire, Greater London and Oxfordshire.
Can you also provide the valuation for the IHT405 Schedule of Property?
Yes — the IHT405 form (Houses, Land and Buildings) requires a description of each property, its value at the date of death, and the basis on which it was valued. Our Red Book valuation report provides all the information needed to complete the IHT405, including the full address, the property description, the basis of valuation (market value), the date of valuation and the valuer's professional qualifications. The report can be submitted to HMRC alongside the IHT400 and IHT405 forms as supporting evidence of the property values declared.
Get a Date of Death Valuation Quote
Free, no-obligation quote within 24 hours. RICS Red Book compliant retrospective valuation accepted by HMRC for IHT400 and IHT405 submissions.