Capital Gains Valuation

Our capital gains valuations assist in calculating the tax payable on profits made from the sale of property on behalf of businesses or individuals. 

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Capital gains valuation

 

What do we do?

Acting for private individuals and businesses, our Chartered Surveyors determine the value of a site or building at the date of reporting for a variety of taxation purposes including Capital gains tax.  

We will provide a detailed, evidence based report, based on the statutory definition of Market Value that provides our opinion of the value for the property in question. Valuations for tax purposes often need to be reported for a specific, often historical date and our team is able to meet this need.

Our aim is to help you make sound financial decisions relating to property. A valuation conducted by a RICS registered valuer will ensure an accurate value of assets is provided that meet the demands of the valuation office agency on behalf of HMRC and reduce the likelihood of miscalculation of tax and resulting fines.

We assess all kinds of residential and commercial property including houses, bungalows and flats, mixed use developments, retail, industrial, offices and large portfolios, including those of non-standard construction to provide our considered opinion of its value. 

 

Turnaround

We aim to turn reports around within five to seven days of inspection and you will be able to talk directly to the surveyor working on your behalf should you have any questions when you receive your report.

To get a quote or discuss your Valuation,

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Frequently asked questions about Capital Gains Valuations

  • How much does a Capital Gains Valuation cost?

    We cannot give you an exact quote without speaking to you as every property and taxation requirement is different but the professional fees payable will always reflect the particular requirements of your property and the time which it is anticipated will be devoted to the matter.

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  • What is Capital Gains tax?

    Capital gains tax is a payment due to HMRC on any profit made when you sell a chargeable asset that has increased in value.

    As surveyors, we provide valuations that confirm the market value of property a given date to assist you in calculating the tax due for capital gains made on property sales or transfers.

    We can provide historical market value valuations in the following situations related to property:

    • Gifts   –    Date of gift
    • Assets sold for less than worth to help the buyer – Date of sale
    • Inherited assets where you do not know the inheritance tax value – Date of death
    • Assets owned before April 1982 – 31st March 1982
  • When do I need a Capital gains property valuation?

    If you are selling, transferring ownership, swapping or giving a gift of property or land you may be liable to capital gains tax. 

    You will need to report and pay tax if the taxable gains are above the capital gains tax allowance.

    If your total gains are less than the tax free allowance, you will still need to report your gains in your tax return if both of the following apply:

    • The total amount you sold the assets for was more than 4 times your allowance
    • You’re registered for self-assessment

    You only need to work out if you need to pay capital gains tax when you inherit an asset if you later dispose of it, not at the point of inheritance.

    Inheritance tax is applicable at this time and is usually taken care of by the estate of the person who has died.

    An accurate capital gains tax valuation could help you reduce your tax contributions by thousands of pounds.

     

  • What is a chargeable asset?

    Property or land is a chargeable asset in the eyes of HMRC. When it belongs to a business or belongs to an individual but is not their main home, you will have to pay Capital Gains tax on your total gains above the annual tax free allowance.

    You don’t usually pay tax on gifts to your husband, wife, civil partner or a charity.

  • Can you conduct a desktop valuation?

    Desktop valuations, where an opinion of value is reached without an inspection of the property, are not RICS Red Book compliant and as such we don’t conduct them.

    We do however conduct desktop valuation updates. These desktop valuation updates are only suitable if we have visited the property on your behalf before, no significant alterations have been made, or the time elapsed since the inspection was conducted isn’t too great.

    Desktop valuation updates are commonly used when the validity of the original valuation has expired (usually after three months of valuation date) and a retype is requested to state that the original value is still correct and the market has not significantly changed.

  • Why is accuracy of valuation important?

    It’s important to secure an accurate valuations for the calculation of capital gains tax. Underestimate the value and you risk having to pay out more Tax than you expected, but if you overestimate, and you may have to spend significant time trying to reclaim your Tax over payment.

    HMRC has the right to challenge and investigate a valuation through its District Valuer Service (DVS). If a valuation is challenged, particularly one not supported by a professional surveyor, you could face hefty fines for having been ‘negligent’ in how you obtained the valuation.

    By instructing a RICS registered Chartered Surveyor to provide a capital gains valuation, you can be confident that will get an accurate valuation figure that will be accepted by HMRC when reporting your capital gains.

    You should instruct a Chartered Surveyor, via the RICS find a surveyor service to be confident that will get an accurate valuation figure that will be accepted by HMRC when reporting your capital gains.

    RICS registered valuers follow industry best practice guidelines on how to reach valuation figures and are bound by the codes of conduct of their professional body.

    Kempton Carr Croft is a RICS regulated firm, has PII insurance cover and all valuations are conducted by qualified RICS registered valuers.

  • What is covered in a Capital Gains valuation?

    • Initial advice in respect of capital gains valuations
    • Inspection of the property
    • Reporting the Market Value at the applicable valuation date
    • Negotiating with HMRC should they raise any queries regarding the value provided (Please note that this element could incur additional costs depending on the level of work required but this will be confirmed with you before any costs are incurred. For example meeting with the District Valuer and making formal representation.)
    • Consultation prior to the valuation to ensure any specific concerns you have are considered in the inspection
  • Do you conduct Captial Gains valuations in my area?

    Kempton Carr Croft’s Surveyors regularly provide valuations for properties throughout London and the whole of the South East of England. The team works from offices in Basingstoke, Camberley, Gerrards Cross, Maidenhead, London, Reading, Staines and Windsor.