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 experienced 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.

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.