IHTM18246 - Teamworking with Shares
and Assets Valuation: Valuer's responsibilities
Shares and Assets Valuation (
IHTM18141) will bring to your attention
at the earliest opportunity any valuation where
- they have agreed that business relief (
IHTM25131) is not due as claimed
- they have agreed that business relief is
due when it was not originally claimed
- they have discovered that a previously
undisclosed sum is due to a person’s estate or a sum due has
been substantially understated
- there is a change to the instalment option
facility or the entitlement to interest relief is altered
- any information comes to hand that could
significantly affect the amount of IHT payable.
Penalties
On receiving any information that suggests substantial
undervaluation or omissions from the estate, consider in
conjunction with the Valuer, the possibility that penalties might
be due on account of negligence or fraud.
The role of the Valuer in these circumstances is outlined
separately in the penalties (
IHTM36143) section of the IHT
Manual.
