Our experienced Chartered Surveyors & RICS Registered Valuers prepare market valuation reports for a variety of purposes including taxation, loan security, matrimonial settlements, financial statements and insurance reinstatement.

Our clients include private individuals, corporate bodies and financial institutions; whether you’ve a single residential property that requires valuing or a portfolio of properties that requires up to date assessments our qualified valuers can assist.

All valuation reports are prepared in accordance with RICS International Valuation Standards.

Inheritance Tax (IHT) in the UK is a tax levied on property and money acquired by gift or inheritance. Tax becomes payable when the deceased estate (their property, money and possessions) are valued higher than the IHT threshold, currently £325,000.

The rate of IHT is currently 40% on anything above the threshold – although the rate may be reduced to 36% if 10% or more of the estate is donated to charity.
In order to minimise the amount of tax paid it is important for the executors of the estate to obtain professional, open market valuations of all property held within that estate.

In accordance with s.160 of the Inheritance Tax Act (1984) our experience Valuers will inspect all properties forming part of the estate and will prepare full open market valuation reports for submission to HM Revenue & Customs (HMRC).

Should the tax office challenge the valuations provided, we are able to act on your behalf in negotiations with the local Valuation Office Agency, who will be appointed by HMRC to settle the case.

Capital Gains Tax (CGT) is a tax on the profit realised when an asset is either sold or disposed of. It is the actual gain made that is taxable, rather than the ultimate value.

Principle residences are exempt from CGT however following disposal or transfer of property that is not classed as a principal residence, for example a second/holiday home, you will be required to provide HMRC with a formal valuation report from which the tax payable will be calculated.

Our registered Valuers will prepare formal valuation reports for CGT purposes in accordance with s.272 Taxation of Chargeable Gains Act 1992 and, if required, negotiate with the Valuation Office Agency on your behalf.

DIVORCE AND RELATIONSHIP SEPARATION

When long-term relationships come to an end, there are often significant financial issues to resolve. The property you share with your partner will be considered an asset and the equity in the home will need to be split between parties.

To protect your financial interests your solicitor may advise you to commission a professionally prepared, independent valuation of the shared home in order to assess its current market worth.

Our RICS valuers provide impartial valuation reports, compliant with Part 35 of the Civil Procedure Rules and, if required, can negotiate settlements on your behalf.

The Royal Institution of Chartered Surveyors (RICS) defines an RCA as an ‘assessment of building reinstatement cost for insurance purposes’.

Whether you are a freeholder, resident management company director, insurance broker or block manager responsible for placing the building insurance on a building under management, it is essential that it is assessed on a three yearly basis in order to ensure an adequate level of cover is in place.

Many building insurance policies contain what is known as an ‘averaging’ clause which in the event of a claim allows the insurer to proportionately reduce the pay-out according to the level of deemed ‘underinsurance’ – potentially leaving those responsible for placing the insurance at risk of negligence or requiring the lessees to cover any shortfalls. This clause is however waived by most insurers if a professional assessment is carried out by a chartered surveyor on a regular basis.

Where the property is found to be over insured not only does this result in the payment of excessive insurance premiums but it also potentially exposes the property owner or managing agents to a determination from the First Tier Tribunal, requiring them to re-pay the residents any premiums over paid.

Industry “best practice” recommends the renewal of RCA’s every three years or sooner if significant alterations are made to the property. An annual desk-top assessment is also strongly recommended at each insurance renewal date.

Our experienced surveyors will provide either full RCA’s or interim desk-top valuations which not only ensure that you have the correct level of cover but also protect those responsible from potential negligence claims.

Our Valuers have a wealth of experience in preparing comprehensive valuation reports for a wide variety of lending purposes, all in accordance with RICS Valuation Standards and best practice.
Companies are regularly required to provide independent valuation reports of property assets held within their portfolios for accounting purposes. Our Valuers prepare residential valuation reports in accordance with RICS valuation standards.