Private Reg - Probate Valuation recommendations

[PVAR]

Hi All

I am trying to sort probate for my Mum's estate.
There were 2 private reg's in her possession, both on long-term retention.

Does anybody have any probate valuation recommendations or pointers?
(apart from use Google - first sensible link that came back was £30 per plate)

One of the reg's is just emotional value, one will be worth a few quid - I guess I'll have to get them both valued though.

Thanks for your help
Paul

[sociopath]

Use the £30, you want it to be as low as possible for probate surely?

[Hugo a Gogo]

are they even counted as assets? given that you don't actually 'own' anything ?

[megaphone]

I wouldn't even bother to itemise them.

[PVAR]

Thanks all. Guess its true, you don’t actually “own” them just the right to use them (or extend that right to another). But then again there are services out there that do this and there is some inherent value in one of them. I have mentioned them to the solicitor now anyway - I suspect their guidance will be valuation but I will question the point on actual ownership.

Edited by PVAR on Monday 15th June 09:28

[silverfoxcc]

I have thought of doing this if the euros came up

Snaffle up a lot of good plates and put on retention....retention cost per plate Son then sells them on as and when needed!

Or am i missing something?

[randlemarcus]

silverfoxcc said:

I have thought of doing this if the euros came up

Snaffle up a lot of good plates and put on retention....retention cost per plate Son then sells them on as and when needed!

Or am i missing something?

Just employ him as a Spend Consultant @200K. Much easier, and then he doesnt need to faff about You can afford it now.

[NGee]

randlemarcus said:

silverfoxcc said:

I have thought of doing this if the euros came up

Snaffle up a lot of good plates and put on retention....retention cost per plate Son then sells them on as and when needed!

Or am i missing something?

Just employ him as a Spend Consultant @200K. Much easier, and then he doesnt need to faff about You can afford it now.

Or just get locked up for 36 hours and earn £200K. Much easier.

[over_the_hill]

megaphone said:

I wouldn't even bother to itemise them.

This.

Unless they are in the maga-bucks category I think you are being
too particular at that level.

As executor I am currently going through the same for a family member.
Other than House, car, bank accounts, shares etc. the rest is no tangible value
unless she owned a few mink coats or chippendale chairs.
i.e. clothes will be tip or charity shop if ok, furniture - no major items.

[seveb]

regtransfers.co.uk will give you a quick valuation.

I would list them, list everything, don't be tempted to hide things you think have no value. What does it matter anyway if there's little value in it ?

[Jaguar steve]

Hugo a Gogo said:

are they even counted as assets? given that you don't actually 'own' anything ?

I'm advised vanity plates must be included in the value of an estate for both IHT and probate valuation purposes. Even though you don't actually own the number you do own the right to display that number and that right has monetary value as it can be bought and sold in the same way as any other asset.

If the plate is given away prior to death in order to reduce the value of an estate and lower the subsequent IHT bill on death the 7 year rule regarding potentially exempt transfers still applies.

[PVAR]

Thanks all. I’ll just go to regtransfers et al I’m sure they’ll offer me on the low side anyway. Cheers

[V8fan]

Most firms just want to list them and take a commission, not actually buy them. They, in my experience, over-value them too. Only what they actually sell for matters. I got over £1300 for 80 TDX (sort of says Botox??) but only £875 for 44 KWY.

DVLA have run auctions for years and this will tell you what previous plates have sold for. It could give you a rough idea if you find something similar:

https://dvlaregistrations.dvla.gov.uk/search/previ...

4 digit dateless plates go for for £2k plus unless they have X, Y or U in them (not in demand as initials!). 7 ULX for example went for £1300 in Feb 2019. 5 digits, under £1k and 6 digit as low as £500 (700 NPY in Feb for example)

Plates that actually spell stuff can go for mental amounts. DA08 NNY went for £2310, DEB 91E for £8560!!

The actual amounts paid are higher though. Buyers had to pay 8% premium plus VAT on all of it and then £80 transfer fee on top. (for a never issued plate?!?) A £750 top bid results in being £1052 to pay.

[PVAR]

That’s all really useful thanks 👍

[anonymous-user]

NGee said:

Or just get locked up for 36 hours and earn £200K. Much easier.

[slk 32]

Mobilecommute said:

NGee said:

Or just get locked up for 36 hours and earn £200K. Much easier.

Gatwick drone couple compo

[carinaman]

slk 32 said:

Mobilecommute said:

NGee said:

Or just get locked up for 36 hours and earn £200K. Much easier.

Gatwick drone couple compo

Didn't work for me. Reportedly their lawyers took over £140K of that and loads of police officers who got it badly wrong have their wages paid by the taxpayers. Going around detaining people on the basis of Cop spidey senses and hunches just isn't on or a legitimate use of taxpayers' money. Perhaps the incompetent Cops should be encouraged to seek alternative employment elsewhere?