Understanding probate grant

[n20998]

Hi, hopefully an easy question. I've applied using the gov.uk page to see grant and will documents (I had already seen the will). At the bottom of the probate grant document it says

It is hereby certified that it appears from information supplied on the application for this grant that the gross value of the said estate in the United Kingdom does not exceed £325,000 and the net value of such estate does not exceed £36,000.

Are these figures specific to the will or is it something to do with inheritence tax? I'm thinking the gross figure is an inheritence tax threshold and the net figure is the actual value of the estate - does that sound about right?

Thanks

[des8]

The gross value of the estate is the total value of all assets covered by the grant of representation that fall under the control of the personal representatives. The net value is the remaining sum of the gross value after all debts and liabilities of the deceased due at the date of death have been subtracted. In particular, this would include funeral expenses, and tax and loan repayments due up to the date of death.

All you can infer from the words "do not exceed" is that the figure is less than the figures quoted, and £325000 was used as the IHT exemption limit.