Valuation For Tax & Legal Purposes

Capital Gains Tax

Capital Gains Tax is a tax on any profit you make when you sell, or dispose of, an asset that’s increased in value. The amount you are taxed is based on the gain, not the amount of money received. The gain is usually the difference between what you paid for an asset and how much you sold it for. However, there are some situations where you will be required to use the market value instead. These include:

• Gifted assets
• Assets sold for less than they were worth
• Inherited assets
• Assets owned before April 1982

Our valuation reports are prepared by experienced Chartered Surveyors who use their market leading knowledge to ensure the figures reported are accurate and supported with relevant comparable evidence. Our reports include a clear and concise methodology to minimise the risk of lengthy and possibly costly disputes at a later stage.

Vickery Holman has roots which date back to 1848 and with Registered Valuers working for the company since the 1980’s, we have internal records of transactions to support our valuations for the required 1982 valuation date.

Inheritance Tax / Probate

Inheritance Tax is a tax on the estate, comprising property, money and possessions, of someone who has died. Inheritance Tax is normally payable when the value of an estate is above £325,000, unless everything above the threshold is left to a spouse, civil partner, or an exempt charity.

An inheritance tax valuation undertaken by a RICS Registered Valuer is used to determine the tax payable on an estate before it passes to the beneficiaries. In accordance with Section 160 Inheritance Tax Act 1984, our valuers will consider the price the asset might reasonably be expected to fetch if sold in the open market, at the date of the deceased’s passing. 

Matrimonial

These valuations are undertaken on an independent expert basis, and we can be appointed by one party to value on their behalf or more commonly as a Joint Independent Expert providing a single report for both parties. We have significant experience of providing expert reports which comply with both the Red Book and Civil Procedure Rules as quite often reports are required for Court Actions.

Stamp Duty Land Tax

Stamp duty is a tax on the acquisition of land or property over a certain price. There are different thresholds for residential and non-domestic property and how much you pay depends on the use, and whether you are eligible for relief or an exemption.

Stamp duty is usually paid on the purchase price. In some cases, for example, where the transfer is by way of a gift, or the buyer and seller are members of the same family, a valuation will be required. HMRC employs professional valuers to check valuations; appointing a RICS Chartered Surveyor and Registered Valuer to provide a detailed, well evidence valuation report should result in a smoother process later down the line.