We hold data for 1982 valuations and will sensitively assess improvements to deduct these and minimise capital gains tax
We provide tax-driven valuation advice to support a wide range of Clients whether appointed directly or through their Accountant or Tax Planning Consultant and to assist Balance Sheet revaluations.
Valuation for tax purposes
A Chartered Valuation Surveyor can assist with valuations for many purposes but tax valuations are a rather specialist area where local expertise and experience really counts. Whether for inheritance tax, capital gains tax or to assess the value of a property being gifted as part of inheritance tax planning, valuations for tax purposes usually have to be negotiated and agreed with the Valuation Office Agency. So the valuation and the Chartered Valuation Surveyor’s ability to justify and defend it becomes critical. Most valuations for tax planning or tax management are generally required as the property being valued has not been sold, so there is no ‘arms length market transaction’ taking place.
So it is all about the homework, the comparable valuation evidence and how that is interpreted usually to a retrospective valuation date, i.e., value as at date of gift, date of inheritance, date of transfer etc... Then, the outcome will depend on the negotiation skills of the Chartered Surveyor acting for you.
- a disposal subject to capital gains tax,
- as part of tax planning when a property is being ‘gifted’,
- inheritance tax following a death.
A further complexity in tax valuations is that the valuation date is often a date in the past, either because it takes time for probate to be granted or because for capital gains tax one has to establish the value either at the acquisition date or where the property was bought before 1982 or 1965 to elect for a 1982 or 1965 valuation instead.
Valuations for inheritance tax
Valuations for property transferred under the ‘lifetime gift’ scheme
Capital gains tax valuations
Rating and tax valuations...
What is a valuation for tax purposes?
When is a tax valuation Necessary?
How is the tax valuation Calculated?
What are the Advantages and Disadvantages of tax valuation?
How often is a tax valuation Updated?
When do you need a tax valuation?
What is inheritance tax?
Why is a tax valuation important for inheritance tax?
What is capital gains tax?
How is capital gains tax Calculated?
What is the Capital Gains Tax Exemption?
Are there any Capital Gains Tax Deductions?
How long do you have to hold an asset to avoid Capital Gains Tax?