New client's father died in 2012 leaving him a shop and also a debt by way of a personal loan. Client personally paid down the loan since death so the property would not have to be sold to satisfy the debt. Probate went though in 2016. 1. What is the valuation date for the CAT calculation? and 2. What loan value is taken against this? Is it the value at date of death or Nil as the beneficiary paid it down?
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