IHT 405 12F using "the sale price as the value at the date of death" question

[MattyMJS]

Hi, in the instance where the estate is subtantially below the IHT threshold what is the best response to the "do you want to use the sale price as the value at the date of death" question concerning the property. I have already placed the higher end valuation on the form & even if the sale exceeds by £50k the overall estate will still be well below the IHT threashold. I assume there will be no penalties in this instance as the threshold will not be breached. So I wondered what is best to put in these circumstances from a process perspective?

[sederunt]

Which IHT threshold is the estate below?

What is the reason for submitting form IHT400 (and IHT 405)?

[dslippy]

Use the sale price achieved.

[MattyMJS]

Use the sale price achieved.

Thanks, yes I will do that.

[sederunt]

Thanks, yes I will do that.

It is difficult to agree with the advice without knowing whether you have correctly interpreted the IHT rules and thresholds, and what the extent and destination of the estate is.