Probate & Capital gain Tax Valuations
Capital gain Tax & Probate Valuations
Chartered Surveyors providing Probate and Tax Valuations
When it comes to a valuation for tax purposes, whether a Matrimonial, Probate or Capital Gains Tax, the Surveyor’s ability to justify and defend these types of Valuations is critical, and can be brought under the close scrutiny of HMRC. It is therefore of paramount importance that you seek the advice of an experienced, local Chartered Surveyor who properly understands the market.
As RICS Registered Valuers, we are here to provide just that. Offering formal Red Book valuations on both residential and commercial property, including Freehold and Leasehold buildings, we cover the whole spectrum of Property Tax Valuations.
All of these tasks are handled by our most senior Chartered Surveyors whose professional intelligence, market experience and local knowledge provide all the assurances you will need, letting you focus on what matters most.
Probate & Inheritance Tax Valuations
At the unfortunate time of a death in the family, matters of inheritance tax are an unwelcome burden. And when it comes to valuing a property for probate, poor valuations can only increase this pain by producing an unnecessarily high inheritance tax bill. Regulated by the RICS, we are here to ensure that doesn’t happen.
Matrimonial Valuations
When a marriage or civil partnership comes to an end, there are often significant financial issues to resolve, and in many cases this will include the sharing of a property. In order to best protect your interests, getting a Matrimonial Valuation from an impartial Chartered Surveyor is highly recommended and will help facilitate any negotiations.
At Taylor Chartered Surveyors we want to help you reach a settlement as peacefully as possible. Acting on the behalf of either an individual, or the couple itself, we are sensitive to your situation and are here to simply provide a fair Valuation.
How Does Capital Gains Tax Work
Whether you are selling, gifting, transferring, swapping or being compensated for a property, chances are you will have to pay Capital Gains Tax. However, working out how much you need to pay can be a complex task, and this is especially true if you have owned the property for a considerable length of time. Furthermore, your tax liability has to be submitted as a self-assessment, which for some can be a daunting prospect.
Regardless of whether you’re an individual taxpayer, partnership or trust, getting a professional Capital Gains Tax Valuation is absolutely crucial. Ensuring that you are providing a fair assessment, and aren’t paying more tax that you need to, our Chartered Surveyors are well versed in preparing historic valuations and undertaking negotiations if necessary.
Want more information on our Property Tax Valuation services?
Speak to one of our valuation experts today about how we can help you:
Our property valuation services
Help to buy Valuations
Probate & Tax Valuations
Lease Extension Valuations
Collective Enfranchisement
Frequently Asked Questions (FAQs)
A probate valuation determines the open market value of a property as at the date of death. It is used to administer the estate, calculate any inheritance tax due, and support the probate process.
Executors and administrators need an accurate probate valuation to calculate inheritance tax (where applicable), administer the estate correctly, and provide supporting evidence if requested by HMRC.
A CGT valuation establishes the property’s market value for calculating any taxable gain when an inherited property or other asset is sold.
In most cases, the property’s probate value (its market value at the date of death) becomes the base cost for Capital Gains Tax purposes. If the property is later sold for more than this value, Capital Gains Tax may be payable on the gain after any allowable deductions and exemptions.
A Probate or Capital Gains Tax valuation should be carried out by an experienced RICS Chartered Surveyor. Where appropriate, the surveyor may also be an RICS Registered Valuer, providing an independent valuation suitable for probate, tax planning, and HMRC purposes.
Yes. HMRC can review and question a probate valuation if it believes the market value is inaccurate. A professionally prepared RICS valuation provides robust evidence to support the figure reported.
Most property inspections take less than an hour, depending on the property’s size and complexity. Your valuation report is usually provided within a few working days.
A Probate or Capital Gains Tax valuation report typically includes the property’s open market value, a description of the property, inspection findings, comparable sales evidence, the valuation methodology used, the relevant valuation date, and the surveyor’s professional opinion prepared in accordance with RICS standards.
A probate valuation reflects the market value on the date of death, while a standard market valuation reflects the property’s value on the date of inspection or sale.
An RICS Chartered Surveyor provides an independent, evidence-based valuation prepared to recognised professional standards. This gives executors, beneficiaries, solicitors, and accountants confidence that the valuation is suitable for estate administration and can withstand scrutiny if queried by HMRC.