Farra is a death administration assistant for UK families. Get step-by-step guidance for registering a death, applying for probate, notifying banks, and managing bereavement admin. From essential documents to practical checklists, Farra simplifies estate paperwork and funeral-related tasks so you can focus on what matters.
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Valuing the contents of a house is one of the most practically challenging parts of estate administration. HMRC requires the open market value— what the items would fetch if sold at auction or through a house clearance today, not what they originally cost or what they would cost to replace. For most ordinary household contents, this value is low, and a house clearance company's written estimate will satisfy HMRC. But for high-value items, a professional valuation is essential.
Open market value is the price the asset would achieve if sold between a willing seller and a willing buyer, neither of whom is under any compulsion to complete the transaction. For household contents, this is typically much lower than either the original purchase price or the cost of replacing the item new.
A dining table that cost £2,000 ten years ago might have an open market value of £150. A wardrobe of ordinary clothing might be valued at £50 for the whole lot. HMRC is aware that second-hand household goods command low prices — the standard valuation will reflect this reality.
The open market value is assessed at the date of death, not the date of the valuation or the date probate is granted. If there has been a significant gap between the date of death and the valuation, make a note of the date of death and ask the valuer to assess value as at that specific date.
For most estates, the most practical and cost-effective approach is to invite one or two house clearance companies to visit the property and provide a written estimate of the total value of the contents. House clearance companies deal with second-hand household goods daily — they have a good sense of what items will fetch at auction or through their own sales channels, which is exactly the open market value HMRC requires.
Ask for the estimate in writing, on the company's headed paper, stating the date of the visit and an overall value (or itemised values for significant items). Keep this document safely as part of your estate records.
HMRC has no specific objection to the house clearance approach for ordinary household goods. Where it becomes insufficient is where the property contains items of significant individual value — see below.
If the deceased's home contained any of the following, a professional specialist valuation is strongly recommended:
HMRC pays particular attention to estates where high-value personal possessions are included at suspiciously low values. Undervaluing assets — whether accidentally or deliberately — can result in penalties and interest on the underpaid IHT. If in doubt, get a valuation. See our guide on how to avoid an HMRC probate investigation for more on how HMRC scrutinises estate valuations.
Personal possessions include everything in the home that belongs to the deceased and is not separately categorised as cash, investments, or property. The main categories are:
Also check for any items stored in garages, lofts, sheds, or storage units that belong to the deceased.
Some assets are reported separately on the IHT return and should not be included in your personal possessions valuation:
Vehicles are personal possessions and must be included in the estate valuation. The accepted method is:
Note the vehicle's registration number, make, model, year, mileage, and condition, and record how you arrived at the value. Keep printouts from Glass's or AutoTrader as evidence.
If the vehicle is unusual — a classic car, a prestige vehicle, or a modified car — consider getting a professional motor trade valuation rather than relying on standard guides.
HMRC guidance acknowledges that for many estates, the entire contents of an ordinary family home may be worth very little on the second-hand market. Where the total personal possessions value is modest — under around £500 for very ordinary household effects — HMRC does not typically require a detailed itemised breakdown, provided the executor has made a reasonable assessment.
This should not be taken as a licence to undervalue. If the home contains any items of potential value, they must be assessed properly. The "modest contents" approach applies to truly ordinary household furniture and effects where a more detailed valuation would cost more than the items are worth.
For most estates, a simple written schedule is sufficient. This should:
You do not need to submit this schedule to HMRC unless they ask for it — but keep it with your estate records in case of a compliance check. HMRC has up to four years from the grant of probate to open an investigation into an estate.
If the estate requires a full IHT400 return, household and personal goods are reported on Schedule IHT407 — Household and Personal Goods. This schedule asks for:
The total from IHT407 feeds into the main IHT400 form as part of the gross estate calculation.
If the estate is below the inheritance tax threshold (£325,000 nil-rate band) and probate is being applied for on a PA1P or PA1A form, you will still need to provide an estimated value of the deceased's personal possessions as part of the gross estate calculation for the probate application — even if no IHT400 is required.
House contents are just one part of the estate valuation. For the property itself, see our guide to valuing property for probate. For a complete picture of everything an executor needs to identify and value, see our estate administration checklist and our guide to what counts as an asset for probate.
Not necessarily. For ordinary household contents with no items of significant individual value, a written estimate from a house clearance company is usually sufficient for HMRC. A professional valuation is needed for antiques, fine art, jewellery, watches, collectibles, and any item that could be worth more than around £1,500 individually.
The honest open market value — what they would realistically fetch if sold. A wardrobe of ordinary clothing typically has negligible second-hand value (£50–£150 for the lot). Ordinary household furniture and kitchen items are similarly low. Do not use replacement value or original purchase price. If in doubt, contact a local house clearance company for a free assessment.
No — you must not distribute estate assets, including personal possessions, before the Grant of Probate is issued and all debts and taxes have been identified and paid. Distributing assets early creates personal liability for the executor. The only exception is items of purely sentimental value with no meaningful market value.
This is a serious matter. If items have been removed from the estate before they could be valued or distributed according to the will, this may constitute taking estate assets without authority. As executor, you should document the situation carefully, make enquiries of family members, and if valuable items are missing, consider seeking legal advice. Misappropriating estate assets can give rise to claims against the individual who took them.
Yes. Even for small estates below the £325,000 nil-rate band, the probate application (PA1P or PA1A) requires you to provide the gross value of the estate, which includes personal possessions. You will need a reasonable estimate of the contents value even if no detailed IHT return (IHT400) is required. See our guide to whether you need probate for guidance on when a full IHT400 is required.
How to get a probate property valuation in the UK: RICS Red Book surveyor, estate agent letters, and HMRC's accepted methods. Avoid underpayment penalties. 2026 guide.
Complete guide to filing IHT400 with HMRC: who needs to file, schedules required, step-by-step walkthrough, and common mistakes. IHT205 abolished from 2024.
Comprehensive guide to what forms part of the probate estate — property, bank accounts, investments, pensions, life insurance, digital assets — and what passes outside probate.
Comprehensive estate administration checklist for UK executors. Step-by-step guide covering probate, asset collection, debt payment, and distribution with timelines.
How to value shares, unit trusts, and investment portfolios for probate using the quarter-up rule. Step-by-step guide for executors with examples. UK 2026.
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