help please-probate forms and future CGT on property?

Perhaps, but that will be at the expense (which in your case may not matter) of increasing the extent/likelihood of IHT liability.

You can trade IHT off against CGT within the limits of decency. Just remember that the valuation needs to be reasonable whichever direction you decide to stretch it into. Anything too extreme can be called into question years down the line. If in doubt get it explicitly approved by the district valuer (which should not cost you anything).

Thanks Ron,, thats how I perceived the situation also. Luckily have spent some time reading the IR website and guides and I adjusted my IHT 205 accordingly as fortunately there is a decent bit of leeway before reaching the IHT limit. I just need to get my brain engaged now and try to fully understand the consequences(!) of owning two houses and the best way forward on that front..

thanks

joe Change the 900 to 670 in the return email address to reply

I think the IR contact the DV as a matter of course. In my case they accepted an estate agent's valuation that was 10% below what the house sold for 6 months later. The assumption is that you will declare the difference as a capital gain, which is usually beneficial tax wise.