land overvalued for inheritance tax

HellieD

My husband was left a small farm by his aunt in her will 3 years ago, he got it valued by a local estate agent who has since gone out of business, and the more i hear about him the more i realise he was a crook. He valued the land and my husband gave the valuation the the solicitor that was handing things, my husband is the executer of the his aunts will. The estate agent valued the land 3 times more than it was actually worth, the solicitor didnt pick up on this and submitted the valuation to the revenue, who came back to with a bill of E38k, my husband in the meantime found out the land is bad land and not worth much, so he got the agent to revalue it, but the revenue will not accept the realistic valuation, and are wanting the 38k plus interest now, the solicitor says he sent us a letter months ago saying to start paying some money to the revenue, we never got a letter! Does anyone know where we can go for help with his, we do not have money for this, the solicitor is being no help, thanks in advance for any advice

eamon11

i am sorry to hijack but I too am in a similar situation and am looking for info how to correct a wrong valuation. Land was seriously undervalued 10 months ago and now I want to sell but will be liable for tax on profits!

Mr. Incognito

Contact a solicitor