“Valuations are the biggest single area of risk… you are strongly advised to instruct a qualified independent valuer.”
That warning comes not from a law firm or trade body, but directly from HMRC’s Inheritance Tax Toolkit. It’s a clear reminder that probate valuations matter, and not only for shares and jewellery but also for the contents of the home.
Even so, household items are often treated as an afterthought. Executors frequently assume that if nothing looks especially valuable then a formal valuation isn’t necessary. But as more estates now cross the inheritance tax threshold, that approach carries more risk than ever.
From Antiques to Argos: How the IHT Net Has Shifted
It used to be the case that only the wealthiest estates fell within the inheritance tax net, and in turn these usually included antiques, paintings, and collectables that made a professional valuation an obvious first step. Auctioneers were happy to help—often for free—because they expected to be offered items to sell once probate was granted.
But rising house prices and frozen tax bands have quietly redrawn the line. Today, even modest homes can easily exceed the £325,000 threshold, yet the furnishings inside are more likely to come from SCS than Sotheby’s.
These estates still require accurate contents valuations, but now there is little in it for the auction houses as the resale value of the items is so low. This means many auction houses will now only attend for a fee, if they are willing to come at all.
That leaves executors in a difficult spot: the estate still needs a proper valuation, but the old routes are no longer accessible or good value for the estate.
The Risk of Guesswork
This shift has meant that many executors are tempted to enter a nominal figure or leave contents off the return altogether.
But HMRC expects realistic open-market values. Vague or unsupported figures are more likely to attract scrutiny, especially now that more estates fall within the IHT net. Even a seemingly minor omission can delay probate or lead to further questions.
In some cases, mistakes can bring real consequences, including disputes among beneficiaries, penalties for under-declaring or excess tax paid for over-declaring.
It’s a risk few people realise they’re taking, and while modern estates may not look like museums, it doesn’t mean they’re exempt from proper procedure.
Conclusion: A Proportionate Response
None of this means that standard homes need a full in-person appraisal costing hundreds of pounds.
For many, a remote valuation from clear photographs—such as those available via Swift Values—offers a practical and proportionate solution. It meets HMRC’s expectations without adding unnecessary cost or delay.
It’s a modern answer to a growing problem—and one that reflects how the probate landscape has changed.
This article was submitted to be published by Swift Values as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.
