Nottingham Letting Agent Property Blog

A decline in property values over the last few years could mean thousands of people have paid too much inheritance tax. According to tax specialists who have used data from the Land Registry to assess the situation, people falling into this category could have overpaid the revenue by as much as £90 million in total. The level of inheritance tax payable on a property is assessed according to the value of the deceased property at the time of probate, but if the home sells for less than the valuation figure within four years of probate, then the tax can be claimed...