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Avoid heavy tax penalties in probate

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Avoid heavy tax penalties in probate

Last year HM Revenue & Customs raised an additional £70 million pounds by successfully challenging nearly ten thousand probate valuations of land. Care should be taken by personal representatives when valuing property and land as penalties may arise where reasonable care is not taken. Penalties can be up to 100 per cent of the additional tax due. Timely legal advice should be sought.

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