CAT Inheritance home valuation at time of death or probate?

[keano12]

Hello. I was looking after my mother until she passed in 11/2018. I am the only child and in the will inherited her house. I was told to get an evaluation done after her passing which I did. The probate on the house passed this year in April. when filling out the form do I place the home evaluation back in 2018 or this year when probate passed?

When addling a disponer on CAT IT38 (my mother) it asks:

- the date of gift/inheritance (is this the day she passed or when probate approved?)
- the valuation date (valuation at death?)

Thank you

 

[DannyBoyD]

Were you living in the house when your mother died, and are you living there now?

 

[ClubMan]

when filling out the form do I place the home evaluation back in 2018 or this year when probate passed?

You'll probably find the answer here:

site:askaboutmoney.com inheritance date valuation date - Google Search

 

[keano12]

Were you living in the house when your mother died, and are you living there now?

Yes I was living there and when the house was evaluated. At the moment I am not but am thinking about going back.

 

[MHoran379]

I think this very much depends on whether you are in danger of paying inheritance tax or not and therefore if it needs closer examination as to which date is better for you from a tax perspective, whether you might qualify for dwellinghouse exemption etc. So if you could be paying tax, get professional advice on all the above.