A RICS registered valuer produces the report HMRC expects, prepared under the RICS Red Book.
What this covers
RICS registered valuers work to a published standard and carry professional indemnity insurance. Where an estate is taxable, or where the figure is likely to be examined, that standard is what makes the valuation defensible.
Common questions
Does every estate need a RICS valuation?
No. Where no inheritance tax is payable and the property sells quickly at a price close to the estimate, agents' appraisals are often accepted. Where tax turns on the figure, a formal valuation is the safer document.
