Dealing with probate can feel overwhelming, especially when chattels, antiques, or collections are involved. At FEAC Legal, we provide HMRC compliant probate valuations for Hurst Green families, solicitors, and executors. Whether you’re handling a simple estate or a large rural property, we offer sensitive, timely, and accurate valuations across East Sussex.

How Does It Work?

Step 1: Book Your Valuation

For a personal quote or to book a probate valuation service, please get in touch with us.

Phone: 07984 733931

Email: admin@feaclegal.co.uk

Step 2: Schedule Your Valuation

Once your appointment is confirmed, our team of professional valuers will arrive promptly at 9:00 AM on the scheduled day. They will conduct the valuation thoroughly and take the necessary time to ensure an accurate and comprehensive assessment.

Note! We can collect keys if you are unable to attend the property, or, you can post them to our head office.

Step 3: Receive Your Report

Once the valuation at your property is complete, our valuers will return to head office to prepare a detailed probate report. This report will be finalised and emailed to you in PDF format within 5 working days of your initial appointment. You can then print and distribute as many times as needed to the appropriate parties.

Our Probate Services In Hurst Green

• Full chattels and household contents valuation for probate and inheritance tax
• HMRC Inheritance tax compliant documentation.
• Asset recovery service included.
• Flexible key collection and postal services for clients unable to attend in person, including those abroad or with busy schedules
• We can also offer full house contents clearance.

Why Choose Us?

• We are a family run business who have been operating for over thirty years.
• Our expert valuers have constant training in antique, fine jewellery, and specialist items. Making them the most knowledgable and best in the business.
• We cover the whole of the UK and Scotland.
• We work closely with over eighty solicitors throughout the UK.
• We have never had a report rejected by HMRC.
• We offer transparent, competitive pricing with no hidden fees.

Ready To Get Started?

Contact us today for probate and chattels valuation in Hurst Green and across East Sussex.
Call 07984733931 or email admin@feaclegal.co.uk.

The Role of Open Market Value in HMRC Compliance

When administering a probate estate in the UK, executors must ensure all assets — including property, financial accounts, and personal possessions (chattels) — are valued correctly. At the core of HMRC’s expectations is a single critical concept: open market value.

Open market value is the legal standard used to determine inheritance tax (IHT). If executors misunderstand it, apply it incorrectly, or rely on estimates instead of professional valuations, they risk penalties, delays, HMRC investigations, and even personal financial liability.

With over 12 years of specialist probate valuation experience and zero HMRC rejections, FEAC Legal explains the vital role open market value plays in HMRC compliance — and how executors can ensure they meet this requirement fully and accurately.

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1. What HMRC Means by “Open Market Value”

HMRC defines open market value as:

“The price a willing buyer would reasonably pay a willing seller for an item on the open market at the date of death.”

This value is not based on:

• Insurance or replacement cost
• Sentimental value
• Original purchase price
• Inflated dealer prices
• Unverified online listings
• Emotional attachment
• Guesswork

Instead, it is a realistic, evidence-backed assessment of what an item would achieve if sold today in its current condition.

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2. Why Open Market Value Matters for HMRC Compliance

HMRC uses open market value to calculate:

• Inheritance Tax
• Capital Gains Tax in certain scenarios
• Correct estate valuations
• Accurate estate accounts

If an estate is undervalued — intentionally or accidentally — HMRC may issue:

• Fines
• Interest charges
• Revaluation requests
• Full investigations
• Delays in the Grant of Probate

Correct open market valuation is therefore essential for smooth estate administration.

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3. Open Market Value Must Be Applied to All Chattels

Executors sometimes believe only antiques or high-value items need valuing. HMRC disagrees.

Open market value applies to every item in the estate, including:

• Furniture
• Jewellery
• Silver and precious metals
• Collectables
• Artwork
• Designer items
• General household contents
• Electronics
• Tools and garden equipment
• Books and ornaments

Whether an item is worth £5 or £5,000, HMRC expects it to be included and valued correctly.

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4. Specialist Identification Is Essential for Accurate Market Value

Open market value depends on correctly identifying what an item actually is. Executives often underestimate value due to incorrect assumptions, such as:

• Silverplate mistaken for sterling silver
• Costume jewellery mixed with gold
• Mid-century furniture misidentified as modern
• Designer handbags treated as unbranded
• Rare collectables mistaken for generic items

Professional valuers are trained to spot these distinctions — a key reason HMRC trusts specialist reports over DIY estimates.

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5. Market Research Is Required to Determine True Value

To comply with HMRC requirements, valuers must assess:

• Comparable auction results
• Dealer prices
• Second-hand market trends
• Condition and provenance
• Authenticity and brand recognition

This research provides the evidence HMRC expects if they question the valuation.

FEAC Legal’s reports include clear methodology and photographic evidence to support every value.

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6. Open Market Value Must Reflect the Condition at the Date of Death

HMRC requires valuations as they would appear on the day the person died, not months later.

Condition affects value significantly. HMRC expects valuers to assess:

• Wear and tear
• Damage or restoration
• Missing parts
• Age and authenticity
• Functionality

Executors who attempt valuations themselves often miss these factors, resulting in non-compliant reporting.

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7. Using Insurance Values Breaches HMRC Compliance

Insurance valuations represent the cost to replace an item, not its resale value. These figures are often:

• Much higher
• Irrelevant to open market conditions
• Misleading for probate purposes

Submitting insurance values instead of open market values will raise HMRC concerns and is one of the fastest ways to trigger an enquiry.

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8. Open Market Value Protects Executors From Liability

Executors are legally responsible for ensuring all values submitted to HMRC are:

• Accurate
• Complete
• Defensible
• Evidence-backed

If HMRC later determines the estate was undervalued, the executor may be held personally liable for any shortfall in tax.

A professional valuation using correct open market value protects executors from this risk.

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9. Professional Valuations Ensure Full HMRC Compliance

A compliant valuation must include:

• Correct identification
• Accurate open market values
• Photographic evidence
• Individual valuations for significant items
• Group valuations for general contents
• A clear total value for IHT purposes
• A structured, professional report

FEAC Legal meets all of these criteria and delivers HMRC-compliant reports within five working days.

Our track record of zero HMRC rejections demonstrates the reliability of our approach and the strength of our methodology.

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Why Executors Should Rely on FEAC Legal

Using FEAC Legal ensures:

• Accurate open market valuations
• Full HMRC compliance
• Protection against penalties
• Transparent documentation
• Specialist identification of high-value items
• Free asset recovery for hidden valuables
• Professional photographs included
• Nationwide coverage across England, Scotland & Wales

Executors choose FEAC Legal because accuracy is not optional — it is a legal necessity.

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Contact FEAC Legal

Email: admin@feaclegal.co.uk
Phone: 07984733931
To make an enquiry or request a valuation, please contact us via our contact page.