At Fallows, we provide expert RICS probate valuations for equestrian properties, ranging from private stables to large stud farms. Equine assets present unique valuation challenges, as their inheritance tax treatment often depends on whether they qualify for Agricultural Property Relief (APR), Business Property Relief (BPR), or neither.

Why Equine Probate Valuations Are Complex

Unlike standard residential or farmland valuations, equine properties can be treated differently by HMRC depending on their use:

  • Stud farms often qualify for APR on land and associated farmhouses, and in many cases may also attract BPR if operated as a genuine business.
  • Livery yards may not qualify for APR, but can still be eligible for BPR if they are run as a trading business, providing services such as feeding, grazing, or full care of horses. Pure “DIY” liveries are far less likely to secure relief.
  • Riding schools, trekking centres, and equine tourism businesses are usually considered trades, meaning BPR may apply, but APR is unlikely.
  • Hope value (future development potential of land and buildings) can increase probate values but may not benefit from reliefs, creating unexpected tax liabilities.
  • Farmhouses and equine outbuildings require careful assessment — HMRC often disputes whether they should be included in relief claims.

Our Approach

Our probate valuations for equine property consider:

  • The type of equestrian activity (stud, livery, riding school, polo, equine tourism).
  • The nature of any tenancies or licences, including whether they weaken or strengthen APR/BPR claims.
  • Supporting market evidence of comparable equine properties across southern England.
  • The balance between agricultural value and full market value, particularly where there is potential for planning or diversification.
  • The potential eligibility of agricultural property relief, business property relief, or both.

We prepare fully compliant RICS Red Book reports, suitable for submission to HMRC. Our reports provide the transparency executors and solicitors need to settle estates confidently, reducing the risk of HMRC challenge.

Coverage Across the South of England

Our Chartered Surveyors provide equine probate valuations throughout the south of England, including Sussex, Surrey and Hampshire. 

Get a Fixed Price Quote for a Probate Valuation

Use our Smart Map

For our cheapest quote, please use our smart map to view and select your property(s).

OR

Request a Callback

Complete a simple form — if we cannot identify the property easily, we may need to call you back.

Start

Frequently Asked Questions About Probate Valuations

Find answers to the most common questions executors, solicitors, and families ask about probate valuations and the inheritance tax process.

What is a probate valuation and why is it needed?

A probate valuation establishes the market value of property at the date of death (or gift within seven years) and is required by law to calculate any Inheritance Tax (IHT) liability. This valuation must usually be carried out by a RICS-certified surveyor

Who pays for the probate valuation and how long does it take?

Typically paid from estate funds, probate valuations vary by complexity. At Fallows, most residential probate reports are delivered within 5–7 days of inspection, ensuring swift progress in settling the estate.

Can I use an Estate Agent’s estimate instead?

Technically speaking, no, but we do acknowledge that some solicitors are happy with just an Estate Agent's letter provided that the value of the estate comfortably falls below the tax threshold, meaning that absolutely no inheritance tax is due or paid. If Inheritance Tax will need to paid, or if the estate is close to the threshold, then absolutely a formal valuation is required as probate demands an independent, Red Book-compliant valuation by a qualified valuation surveyor (eg RICS). Estate Agent estimates are generally informal, often optimistic, and not accepted by HMRC for probate requirements.

What influences property value in probate valuations?

Key factors affecting value include property type, location, market conditions, tax relief eligibility (e.g., APR/BPR), secure tenancies, hope value, use restrictions, and any planning or environmental constraints. Each valuation report documents these considerations transparently.