IHT valuation

Why Do House Contents Need to Be Valued for Probate?

When a person dies, everything they owned (their “personal chattels” or movable property) must be valued and reported for probate. This isn’t just a formality – it’s a legal requirement. Executors (or administrators) are obliged to make “full enquiry” into the estate and disclose all assets to HMRC. Failing to do so (for example, overlooking assets or providing unsupported figures) can result in financial penalties for the executor.

 The value HMRC needs is the resale price – not what something cost new, nor what it’s insured for.

Importantly, house contents valuations can directly affect inheritance tax. The value of the contents, combined with property, money, and other assets, determines whether the estate exceeds the IHT nil-rate band (£325,000) or any additional allowances. Every pound over the threshold is typically taxed at 40%. That means overstating the contents by even £10,000 could lead to £4,000 in unnecessary IHT. On the other hand, undervaluing assets (whether by mistake or optimism) can be considered negligence – HMRC can impose penalties if they find you knowingly or carelessly undervalued items. Executors should strike a careful balance: report honest open-market values, which are usually much lower than retail prices, to avoid overpaying tax, but also ensure no major item is omitted or grossly undervalued to avoid trouble later.

Another reason valuations matter is for fairness among beneficiaries. If personal possessions are to be divided (e.g. one heir gets the contents, another gets cash), having a professional valuation ensures everyone knows the true worth of what’s being distributed. It can help prevent family disputes by making the process transparent and anchored to real market data.

Finally, keep in mind that probate cannot be completed until any IHT due is paid. If the estate is taxable, HMRC will not grant probate until they are satisfied with the reported valuations and the tax payment. In estates that are close to the tax threshold, getting the contents valuation right can mean the difference between needing to file the long IHT400 tax form or not, and whether any tax is due at all.

Bottom line: Properly valuing household contents is an essential part of estate administration. It ensures the estate’s tax bill is accurate (neither too high nor inviting inquiry) and that the executor fulfills their legal duties. Even seemingly “worthless” items must be considered, as HMRC expects a figure for all personal assets – though, as we’ll see, that figure might be very modest in many cases.

Open-Market Value vs Insurance Value: Common Misconceptions

One of the biggest mistakes executors make is confusing insurance or purchase value with probate value. HMRC, however, requires the open market value – essentially, what the item would fetch if sold in its current used condition. This is often dramatically lower than what it cost new or what it’s insured for. As The Gazette explains, “The value is the open market value… the realistic selling price of an asset, not the insurance value or replacement value.” In other words, probate valuation reflects second-hand market prices, not retail.

For example: You might have insured the contents of a house for £50,000 (based on new replacement costs), but their open-market resale value could be only a fraction of that. A sofa purchased for £1,000 and insured for the same might only fetch around £100 second-hand, if you’re lucky. 

HMRC wants that £100 figure, not £1,000. As Mark Littler – founder of Swift Values – puts it, “People associate jewellery, antiques and recent purchases with high value, but HMRC doesn’t care what something cost or what it’s insured for. They want to know what it would fetch on the day of death, on the open market.”

This misunderstanding is extremely common. In fact, a recent survey of 250 UK adults by Swift Values found that the vast majority overestimate the value of household items for probate. Participants were shown everyday items and asked to estimate their open-market value. The findings were eye-opening:

• A diamond engagement ring that originally cost £6,250 was actually worth only about £1,250 on the open market at the date of death – yet 90% of people guessed a higher value, often in the £4,000–£6,500 range. Only 9.6% of respondents got it right, in the correct low-value bracket.
• An antique longcase clock purchased for £2,500 had a probate value of around £320, but most people overestimated it by more than double – many assuming it was worth well into the thousands.
• A simple Bosch washing machine (several years old) would only be worth about £40 in resale value, yet many respondents believed it to be £200–£400.
• Even a nearly new (“six-month-old”) John Lewis sofa was vastly overvalued by participants – most expected a few hundred pounds, whereas its true probate value was under £100 in our experts’ assessment.

In every single item tested – from jewelry and antiques to furniture and appliances – the majority of people chose a value bracket above the real market value. This highlights a widespread “luxury bias” or simply lack of awareness of how steeply items depreciate. It’s easy to see why: we remember what we paid for something or see it listed online at high prices, and we assume it’s still “worth” that. But asking prices aren’t selling prices – as one forum user wryly noted, “auction site listing prices are often exaggerated and many items don’t sell at all. No market means no value.”

The Probate Value is typically much lower than the insurance value. If you insured a painting or piece of jewelry for its replacement cost, that figure could be several times higher than what the item would actually sell for today. Executors must use the realistic sale price (what a willing buyer would pay a willing seller) as of the date of death. This requirement is enshrined in law – Section 160 of the Inheritance Tax Act 1984 defines “market value” as the price the item might reasonably fetch in the open market at that time.

Misconception: “Probate value” can be lower than true market value. Wrong. In the past, some people believed you could apply a flat discount (sometimes 10%) to come up with a “probate value.” This is not how it works. HMRC expects actual open-market values. In fact, guidance cautions to explicitly ask for an open-market valuation, not a so-called ‘probate valuation’ that arbitrarily discounts prices. Simply put: no fudging or blanket markdowns – use genuine current market prices.

Takeaway: Don’t be surprised (or alarmed) if the contents of an average home turn out to be worth far less than what the family “always thought.” That’s normal. Most used furniture, electronics, and everyday items have minimal resale demand – in many cases “no demand means no value”. Executors often find that “it’s amazing how little stuff is actually worth” when they go through a house clearance. A wardrobe full of clothes might have zero market value (and can be donated to charity without affecting the estate). Old dishes, linens, books, and bric-à-brac often end up with nominal or no value on the probate inventory. Recognizing this difference between sentimental or insured value and real market value is crucial to avoiding mistakes.

On the flip side, don’t undervalue genuinely valuable items. If the deceased owned anything that does have a strong secondary market (e.g. fine jewelry, original art, rare collectibles), those need proper attention (more on that later). But for the bulk of general household goods, think in “car boot sale” or auction clearance terms, not retail. As one probate guide succinctly puts it, “the knackered telly in the spare room matters” for completeness, but financially it’s likely worth next to nothing.

When Is a Professional Valuation Required vs. a DIY Estimate?

Not every estate will require hiring a professional valuer for the house contents. HMRC provides a clear guideline: if the total value of the house contents is below £1,500, you can submit a reasonable estimate instead of a professional valuation. In practical terms, £1,500 total is a very low threshold – roughly the contents of a modest flat or a sparsely furnished home. If you truly believe everything in the property would only fetch under £1,500 in total (with no single item over £1,500 either), a formal report is not mandatory. In that case, you might put, say, “Household furniture and effects – £1,000” (or whatever you judge) on the tax form. 

Do keep photographs and notes of what was included, because HMRC has the right to ask for details later and you’ll want evidence of the items’ condition and quantity if questioned. Executors often go this route for an average elderly person’s house with ordinary possessions; indeed many report valuing a whole three-bedroom house’s contents at £500–£1,000 without issue.

However, if the contents are likely worth more than £1,500 in total, HMRC expects a formal valuation by an independent expert. Likewise, **any individual item that could be worth over £1,500 should be listed separately and professionally valued. This typically includes things like jewelry, artworks, antiques, or specific collectibles. For example, if there’s a painting that might be a listed artist, or a piece of jewelry with a significant gemstone, you should get an expert appraisal for that piece (even if you handle the rest of the contents yourself). Such items above £1,500 must be itemized on the IHT400 tax form.

Tip: In practice, executors often use a hybrid approach. You might group the low-value items (“assorted furniture, kitchenware, linens – £X total”) and then separately identify a few valuables (“e.g. 18k gold Rolex watch – £5,000; Oil painting by XYZ – £2,000”). You do not need to list every trinket individually. 

As Swift Values notes, HMRC requires a fair overall valuation, not a microscopic inventory of every plate and towel. It’s about the total accurate value, focusing on anything that materially affects that total. The estate tax forms allow you to aggregate personal possessions except for those high-ticket items that cross the threshold.

So, when should you call in a professional? Here are some rules of thumb:

• If the estate is taxable (over the £325k threshold) or close to it: It’s generally wise to get a professional contents valuation. With IHT at 40%, the cost of a valuation is often easily justified by the peace of mind that you’re not overpaying (or underpaying) tax. If IHT is likely, HMRC may scrutinize the values more closely, and having a formal report by a qualified valuer carries weight. Professionals also know how to handle any negotiations with HMRC’s District Valuer (the officials who may review property or art values) in case of dispute.
  
  
• If there are any items of special value or uncertainty: For example, an artwork, antique furniture, classic car, jewelry collection, or anything where value isn’t obvious. These should be valued by someone with expertise in that area. Don’t guess an antique clock’s value – you might be off by thousands. As an MSE forum advisor noted, even experienced executors are often surprised at “how low the prices offered” are when dealers or auctioneers assess supposed “treasures”. Getting a professional appraisal prevents sentimental or notional values from skewing the estate figures.
  
  
• If you simply aren’t comfortable valuing the contents yourself: It’s a lot to sort through, and easy to make mistakes (especially when grief and administrative burden are weighing on you). Professionals can save time and stress by doing the inventory and valuation for you. As one solicitor quipped, “Whilst it is possible to undertake all this work yourself as executor, it is easy to make mistakes and they can be costly.”
  

Conversely, if the estate has no item of significant value and is well below IHT limits, you may reasonably choose to DIY the contents valuation. This involves making an inventory of the main items and assigning each a fair second-hand price, then summing it up. You can research by looking at completed sales on eBay, local auction results, Facebook Marketplace, or consulting price guides (for example, the Parker’s guide for used cars if a vehicle is involved). Be sure to look at actual selling prices, not asking prices. 

For instance, you might find that similar used dining tables sell for only ~£150 even if they were £1,000 new, or that a “collectible” figurine set only fetched £50 at auction for the whole lot. Setting realistic values is key; don’t list a junk-shop cabinet at £0 if comparable ones sell for £20, but also don’t list it at £200 just because that’s what it cost new. If in doubt, lean toward conservative (lower) estimates that reflect a quick estate sale or auction scenario.

Document your reasoning in case anyone (HMRC or a beneficiary) asks later. Keep notes like “valued clothing at £0 – donated to charity (no resale market)” or “estimated kitchen appliances at £50 total based on age and condition (used washing machine ~£40, old microwave ~£10)” etc. And absolutely photograph the contents before disposing or distributing them. Photos serve as evidence if HMRC questions the valuation – for example, you can show that the furniture was old and worn, justifying the low figure.

To summarize, HMRC’s £1,500 Rule is a helpful cutoff:

• Below £1,500 total? – No formal valuation required; use your own reasonable estimate. (Still list the total and keep proof like photos.)
• Above £1,500 total, or any item over £1,500? – Get a professional valuation and list individual items above the threshold.

When in doubt, especially for borderline cases, err on the side of obtaining professional advice. The cost of a valuation is usually a few hundred pounds, but it might save the estate much more in potential tax or avoidable penalties. As HMRC itself emphasizes in its guidance: “Valuations are the biggest single area of risk, accounting for a large part of [our] compliance checks. It is important to properly ascertain the value of assets. For assets with a material value you are strongly advised to instruct a qualified independent valuer.” In other words, if something could be materially valuable, don’t just guess – get an expert.

Who Can Perform a Probate Contents Valuation? (Professional Options)

If you decide (or are required) to get a formal valuation of house contents, there are a few types of professionals who offer this service. It’s worth understanding the differences:

Auctioneers and Antiques Appraisers: Many estate executors turn to local auction houses or dealers to value the contents. Auctioneers are experienced with second-hand markets and can often provide a probate valuation for general contents, art, and antiques. In fact, some auction houses have dedicated probate valuation services. They might charge a fee or sometimes offer the valuation free or at a reduced cost if you agree to sell items through them later. 

The advantage is their market knowledge – they know what items realistically sell for at auction. An auctioneer’s valuation will be in line with open-market prices, because that’s their business. Just ensure they understand it’s for probate (open market) and not insurance. Auctioneers can also help identify hidden gems that you might not realize have value (and conversely, tell you when something is essentially valueless). 

One caution: an auctioneer’s valuation might lean towards quick-sale estimates (often conservative), and if they hope to win the sale of the items, there could be an interest in valuing lower to set up achievable auction reserves. Still, they are generally reputable if you use an established firm. It’s often a good idea to get 2-3 valuations if going this route – similar to getting multiple estate agent valuations for a house, you can average them out. Also, clarify the fee upfront – is it a flat fee or a percentage of the estate contents value? Some may charge hourly.

House Clearance Companies: House clearance services primarily focus on removing and disposing of household items. Some advertise “probate valuation” as well, essentially offering to assess what’s salable versus what’s rubbish. Be careful here: a clearance firm’s “valuation” may simply be the price they’re willing to pay for the contents, which can be very low (since they need to resell or will incur disposal costs). For instance, one executor shared that a clearance company offered only £120 for an entire house of furniture, books, and appliances, including a high-end recliner chair and nice edition books. Ultimately, that executor was so appalled by the low offer, they declined and managed the clearance themselves – and indeed found it was hard to get much money for the items. 

The point is, clearance firms are useful for emptying a property quickly, but their figures may not reflect true open-market values – often they reflect bulk liquidation value (which can be pennies on the pound). If you use a clearance service for probate, consider getting an independent valuation first. 

Alternatively, treat the clearance quote as separate: you might declare a higher probate value for items than what the clearance guy will pay (because the clearance is a fire-sale scenario). In summary, clearance companies are great for the practical task of clearing out, but they are not ideal for determining HMRC valuation unless they also provide formal reports and you trust their market knowledge. Use them to complement, not replace, a valuation.

Specialist Probate Valuers: These are firms (like Swift Values) that specialise in chattel valuations for probate and inheritance tax. They are often the most comprehensive option, especially for nationwide coverage. Such valuers have expertise across categories – general household goods as well as niches like jewelry, watches, fine art, wine collections, etc. 

They provide HMRC-compliant reports that executors or solicitors can directly submit. The advantage of a specialist valuer is that they are independent (they’re not looking to buy the items) and they are experienced in exactly what HMRC expects. They can also handle large estates or unusual items systematically. 

The cost is typically fee-based (not a cut of the estate), and services may be tiered by level of detail needed. If you want a one-stop, professional solution that demonstrates due diligence and expertise, a specialist probate valuation company is an excellent choice. Many solicitors actually prefer to engage such valuers to ensure accuracy.

Next, we’ll look at how one such service – Swift Values – structures its probate valuation offerings, as an example of a modern, executor-friendly approach.

Swift Values’ Laddered Approach to Probate Valuations

Swift Values is a nationwide probate valuation company co-founded by Mark Littler (an experienced antiques broker and auctioneer). We’ve developed a tiered service to accommodate different needs and estate sizes, ranging from affordable online valuations to comprehensive in-person appraisals. Here’s how their laddered approach works:

• Single Item or Category Valuations – from £25+VAT: If an executor just needs help valuing a specific item or a particular category of items, Swift Values offers targeted valuations. For example, maybe you’re mostly comfortable valuing the household contents but you have a set of jewelry or a classic car you’re unsure about. Swift can bring in a specialist for that category. We charge roughly £25+VAT per category for these add-on valuations. This is a cost-effective way to get expert input on, say, “all the jewelry” or “the coin collection,” without a full house visit.
• Online House Contents Valuation – £99+VAT per property: This is an entire-house valuation done remotely. It’s ideal when the estate doesn’t have extremely high-value contents that warrant an in-person visit, or when executors are far from the property. How it works: You (the executor) submit photographs of each room and any notable items via a secure portal. 

A qualified valuer reviews the images and data, and prepares an open-market valuation report based on what they can see. Within a couple of working days, you receive a professional report giving an overall contents value (or range) and notes on any items that might need a closer look. 

The report is fully compliant with HMRC’s requirements (meeting the Section 160 open-market definition) and suitable for probate submission. Swift Values emphasizes that this £99 online service is a great starting point for most standard estates – think of it like getting a GP’s opinion before deciding if you need a specialist. 

It’s a fast, affordable way to fulfill your duty as executor without overpaying for a detailed service you might not need. If during the online valuation the expert spots any item that appears particularly unusual or potentially valuable beyond the photos, they will flag it and recommend either a specialist add-on (£25) or an in-person visit so you won’t miss anything important. For example, if a painting on the wall looks like it could be an original by a listed artist, they might suggest getting that one painting appraised in detail.

• In-Person Contents Valuation– from £249+VAT: This is the full service, on-site valuation, ideal for higher-value estates or whenever a personal touch is preferred. Swift Values will send an expert valuer to the property to conduct a room-by-room assessment and inventory. During the visit, the valuer will identify and document key items, take necessary photographs and notes, and then prepare a comprehensive report back at the office. 

The report is delivered in about a week and provides itemized values for significant items (anything over the £1,500 threshold is listed separately) and a total valuation for the entire contents. This option is best if the house contains antique furniture, extensive collections, or many high-ticket possessions, or if you simply want the reassurance of a thorough on-site appraisal. The cost starts at £249+VAT (this covers a base amount of time, e.g. the first hour) and can increase if the property is large or far away (for instance, in London and surrounding counties the minimum is £498+VAT for up to two hours, due to travel and time). The valuation fee can often be settled from the estate funds as an administrative cost.

All Swift Values reports, whether online or in-person, are HMRC-compliant and explicitly state values on an open-market basis under Section 160 IHTA 1984. We also have a strong track record – according to the company, their reports have achieved a 100% acceptance rate with HMRC to date. In practical terms, that means estates valued by Swift have not encountered problems or challenges from the tax authorities, underscoring the credibility of their work.

Crucially, Swift Values’ approach is to scale the service to the estate’s needs. As Mark Littler notes, “A professional probate valuation is the single most effective way to ensure fairness, compliance, and ultimately maximize the inheritance for the next generation.” But that doesn’t mean every estate needs an expensive, days-long appraisal. By offering a £99 remote valuation option, the service recognizes that many estates can be handled with a light-touch, efficient process – and only “upgraded” to an in-person visit if necessary. This laddered pricing (from £25 item add-ons, to £99 online, to £249+ on-site) allows executors to get exactly the level of help they need and no more. It also provides a pathway: start online, and if the online valuation reveals something unusual, you can then move to an on-site inspection for that peace of mind.

Finally, one benefit of working with specialist valuers like Swift is the additional guidance we provide. Their reports often include expert notes and next-step recommendations – for instance, if they think an item might benefit from a specialist auction or if extra documentation is needed for a rare piece. We can also often assist with or refer you to services for selling the items or clearing the house after probate, if needed (though that would be separate from the valuation itself).

In summary, professional valuation services range from traditional surveyors and auctioneers to modern online offerings. Executors should choose based on the estate’s complexity, their own comfort level, and the cost-benefit. Remember, the goal is an accurate, defensible valuation that will satisfy HMRC and hold up to any scrutiny. Whether you obtain that through your own diligent research or by hiring the experts, accuracy and evidence are key.

Below we address some frequently asked questions that many executors have about valuing house contents for probate, incorporating advice and experiences shared on forums like Mumsnet and MoneySavingExpert in 2025.

FAQ: House Contents Valuation for Probate

Q: Do I really need to value all the household contents for probate if they seem worthless?

A: Yes – every asset needs at least a nominal value in the estate for probate, even if it’s close to £0. However, “valuing” doesn’t mean an item-by-item breakdown of every fork and old sweater. If the contents have very little resale value, you can assign a token total value for the lot. For example, executors on forums often report putting £500 or £1,000 total for an entire house of ordinary furniture and personal effects, and “no questions were asked” by HMRC. Clothes, linens, kitchenware, etc., can be valued at nil or a few pounds – it’s understood they often have no market value (and you can donate them to charity). The key is to include a reasonable figure in the paperwork rather than leaving it blank or saying “N/A.” Even if it’s just “Household miscellaneous – £500,” that shows you considered it. As long as there are no individually valuable items hidden in there, HMRC is unlikely to challenge a modest estimate. Just be sure that estimate is honest (don’t put £0 for everything unless truly nothing could be sold) and keep a record (photos of the rooms, notes of what was in the house). That way you’re covered if anyone ever inquires how you arrived at the figure.

Q: There’s nothing worth over £1,500 in the house. Can I avoid a professional valuation?

A: Probably, yes. HMRC doesn’t require a professional valuation if no individual item is above £1,500 and the total contents are modest. In this scenario, you (the executor) can self-assess the contents’ value. List any items of note and assign open-market prices to them (as if you were selling them second-hand). Sum it up and use that as the total.

 If you feel unsure, you could get an informal opinion from a local auction house or second-hand dealer on any borderline pieces, but you don’t necessarily need to pay for a written report. The cost of hiring a valuer might even exceed the value of the items, which doesn’t make economic sense (this was a concern one Mumsnet executor raised about valuing a frugal parent’s flat). 

So if indeed nothing is of high value – e.g. just basic furniture, clothes, some knick-knacks – you can safely provide an estimated total yourself. Do ensure no hidden gems though. Double-check jewelry boxes (occasionally a simple-looking ring might be gold or have a gemstone), and any artwork or collections, just so you’re confident everything truly falls under that £1,500/item threshold. When in doubt about an item, you might still have that one piece appraised (many professionals will do a single-item valuation for a small fee).

Q: How do I figure out the second-hand value of our items?

A: Research and realism. A good approach is to use online marketplaces and auction results to gauge prices. For example, search eBay’s “Sold items” filter for similar furniture, electronics, or collectibles. Check local auction house archives or sale listings for comparable pieces. You’ll often find that used furniture goes for 10-20% of its original price (or less), consumer electronics depreciate rapidly, and only truly rare or high-end items hold value. 

Some rough benchmarks: a sofa that cost £1,000 new might sell for around £100 now; a £600 fridge maybe £50–£100 if it’s fairly new; a three-year-old TV perhaps 20–30% of its purchase price. Small appliances and older gadgets often have virtually no resale value (an old washing machine might be £20 scrap or nil if broken). 

Bundle low-value items together for valuation purposes (“Lot of kitchen utensils and dishes – £30” for example). Another tip: If you have a local second-hand dealer or house clearance shop, they might give you a ballpark offer for bulk items – use that as a proxy for value. The key is thinking like a buyer, not an owner. What would you pay for a 10-year-old wardrobe or a shelf of used books? Likely very little. That mindset will guide you to the right figures. If you want more guidance, HMRC’s inheritance tax toolkit (available on gov.uk) and probate guides often mention that open market value is what a willing buyer would pay in the condition the item’s in, with no pressure to buygov.uk. It’s essentially a fair trade price between strangers, not the sentimental value to your family.

Q: What about sentimental items that the family wants to keep – do we still need to put a value on those?

A: Yes. Even if a beneficiary is keeping an item (e.g. you’re keeping your mum’s sewing machine), you must still include its open-market value in the estate at the date of death. Probate valuation is theoretical – it’s about what the item would sell for, even if you don’t actually intend to sell it. That said, for many personal keepsakes, the open market value is nominal (the sewing machine might only be £20, the old photo albums £0, etc.). 

You list those values on the return, and then when you distribute the estate, you can transfer the items to the beneficiary. No actual sale is required, and inheriting the items doesn’t trigger any tax as long as they were accounted for in the estate’s overall value. One nuance: if an heir is receiving a valuable item (say a painting worth £5,000) instead of cash, sometimes executors will get that item professionally valued to ensure its value is correctly counted and to be fair in apportioning the estate. But for typical personal effects, you can self-assess the value for the probate paperwork and then let the family member take possession. 

Always imagine, “If we did sell this on the open market, what would it fetch?” – that’s the number HMRC needs. The fact that you chose not to sell it doesn’t change the need to declare that number.

Q: Should I take photos or keep evidence of the contents?

A: Absolutely yes, especially if you are not getting a professional valuation. Taking clear photographs of each room and notable items is a smart step. If HMRC ever raises a query about the valuation, you can refer to photos to show the condition and nature of the items. For instance, if you valued “Living room furniture at £200” and HMRC asks how you got that, you could show photos of a well-worn sofa and table that justify that modest figure. 

Also, if the total is under £1,500 and you didn’t get a formal report, HMRC’s guidance explicitly suggests keeping a photographic record, since by the time they might inquire, the property could be cleared out. In addition to photos, keep any notes of valuations you did (print out similar eBay listings, or jot down the logic you used). In reality, HMRC rarely asks for this level of detail on mundane household items when the values are low – they have bigger fish to fry – but it’s wise to be prepared. Good record-keeping also helps if family members later have questions (“why did you only value the china cabinet at £50?” – you can show that the shelves were chipped and that identical cabinets sold for £50 online).

Q: Will HMRC check or challenge the contents valuation?

A: Usually, if the valuation is reasonable and the estate isn’t marginal for tax, HMRC will accept what you report without question. In fact, as Mark Littler has pointed out, HMRC generally takes your figures at face value – there’s no automatic “feedback loop” to tell you if you overestimated something. This is why overvaluing is a silent problem; HMRC won’t correct you if you’ve paid too much tax due to an inflated valuation. They’re more concerned with undervaluation that causes tax loss. 

If the estate owes IHT and there are high-value items (or the district valuer thinks a figure is too low, especially for property or very valuable art), they may indeed scrutinize and potentially challenge it. For ordinary house contents, challenges are rare as long as you followed guidelines and weren’t obviously unrealistic. To give an example: If you listed “Total contents £50” on a wealthy estate with a mansion full of antiques, that would raise a red flag. But listing “Contents £5,000” for a normal three-bedroom house with average stuff is not unusual and likely fine. If HMRC does have questions, they might ask for a breakdown or how you arrived at the figure. In extreme cases where they suspect significant under-valuation, they could send their VOA (Valuation Office Agency) officer to assess, but that’s uncommon for general chattels – it’s more common for real estate or collections. 

The best practice is to be truthful and keep evidence. Then you can sleep well knowing that if HMRC ever knocks, you can justify the values. And remember, if you’ve engaged a professional valuer and provided their report to HMRC, any negotiation or questions from HMRC often go via that valuer (especially for big-ticket items), so you’re not on your own.

Q: When is it worth paying for a professional valuations service?

A: If the contents valuation could meaningfully affect the estate’s tax bill or you feel out of your depth, it’s worth it. Some specific triggers:

• High-value estate (IHT likely): A professional valuation ensures you don’t overpay tax by guessing too high or incur penalties by estimating too low. It provides a solid basis for the IHT calculationswiftvalues.co.uk. The fee (a few hundred pounds) can be far less than the tax error on an incorrect £10,000 or £20,000 of value.
  
  
• Valuable or tricky items: If the deceased had anything like jewelry, artwork, antiques, collections, or luxury items that you can’t confidently value, get an expert. They might spot value you’d miss (ensuring the beneficiaries don’t undersell something later) or realistically lower a value you’d overestimate. For instance, a specialist valuer will know that Victorian mahogany furniture, while beautiful, often has low demand today – so that big antique wardrobe might only be £100 on the market, not the £1,000 you assumed.
  
  
• Peace of mind and speed: Professionals do this routinely. They can usually turn around a report quickly (Swift Values’ online report, for example, comes in 1–2 days, and in-person within 1 week). If you’re short on time or unsure where to begin, an expert service can shortcut the process and give you confidence that the estate is properly valued. Executors often find this well worth it, especially when managing a complex estate.
  
  
• Documenting for potential disputes: If you anticipate any dispute among family or beneficiaries about the value of items (say siblings arguing over who gets what), a neutral professional valuation can defuse tension. It’s hard to argue with an independent report.

In contrast, if the estate is small, non-taxable, and nothing stands out as valuable, you might skip a paid valuation. Another middle path: some executors start with an online valuation service (£99) to get a general report, and then decide if they need an in-person visit. This way, you’re not committing a lot of money upfront, and you might get exactly what you need from the basic service.

Q: Can I sell or dispose of items before probate is granted?

A: It’s generally advisable not to sell significant assets before you have probate (especially if you need the grant to access bank accounts etc.), but with personal chattels it’s a bit more flexible. 

Read our expert guide about if you can sell before probate is granted.

Low-value items that are clearly not needed for anything (clothes, perishables, inexpensive furniture) can be donated or disposed of even before probate, as long as you’ve recorded their existence and included their value in the estate. For example, many executors will clear out clothing and unsalvageable furniture to start tidying up – you can do that. Just keep a note (“10 bags of clothing donated to charity – nominal value £0”). 

Do not sell any item of significant value until you’ve gotten a valuation and ideally after probate, because technically you shouldn’t distribute assets (which a sale effectively does by converting to cash) before the grant. 

If you must sell something (say, to free up storage space or because it’s perishable), document the sale and keep the proceeds within the estate. 

One common question is jewelry: Can you sell it to raise funds to pay inheritance tax? Yes, you can, but make sure its value was ascertained and reported. In short, minor household clearance is fine (and often necessary to make the property presentable for sale), but hold off on selling any big-ticket items until you have formal valuation and the go-ahead from the probate timeline. Always ensure heirs are in agreement too – you don’t want to sell an heirloom only to have a family member upset that they wanted to keep it. If you do sell items during the administration, any money realized just goes into the estate account and will be distributed or used to pay expenses/tax accordingly.

Q: What if I made a mistake and found out later an item was worth a lot more (or less)?

A: If you discover a mistake before submitting the probate application/IHT forms, simply correct the values (and ideally note why they changed – e.g. “updated valuation after expert appraisal”). It’s common to adjust valuations as you gather more information. If you have already obtained the grant and then realize an item was mis-valued, the course depends on the magnitude and whether IHT was affected. If it’s a small difference with no tax impact, you don’t need to do anything formally – your estate accounts can reflect the correction when you finalize them for beneficiaries. 

If it’s a significant discrepancy that could change the IHT due, you are obliged to inform HMRC and submit a corrective account (using form C4) or write to them with the new information. For instance, say you valued a painting at £500 but later an auction house sells it for £5,000 – that’s material. You should report the sale result to HMRC because the estate may owe extra tax on that additional £4,500 gain. HMRC tends to be reasonable if you come forward proactively – you’d pay the difference in tax (with interest potentially, but usually no penalty if it was a genuine oversight). On the other hand, if you overestimated and it turns out you paid too much tax, you can also claim a refund. Keep in mind, an item’s actual sale price shortly after the valuation can be a strong indicator of its true value at death. 

So if within, say, a year of death you sell something for significantly more or less than the probate value, HMRC can use that as evidence to adjust the valuation. It’s always best to get valuations right the first time, but estates are not an exact science – HMRC provides mechanisms to rectify valuations when needed. Just be honest and prompt in communicating any big changes. And if you’re unsure, consult with a probate solicitor or the valuer for advice on how to handle it.