IHTM23173 - Special valuation matters: benefit
of building contracts
Where it is known that
- the deceased had entered into a binding
contract for work to be done on his property, and
- at the date of death the work had not been
completed
you should
- inform the VOA (
IHTM23002) accordingly, and
- indicate the cost of the work, where
known
The VOA's o/v (
IHTM23141) should reflect
- the benefit of all work to be done under
the contract, but
- without deduction for payment to be made
under the contract
The payments to be made under the contract will therefore be
deductible as liabilities (
IHTM28000) of the estate.
