Property Valuations for Capital Gains Tax | RICS Registered Valuers

Capital Gains Tax Valuation Service

Mylako Chartered Surveyors provide detailed, evidence based reports, from as little as a few hundred pounds, that could help you reduce your tax obligations by a few thousand pounds.

Benefits of a Capital Gain Tax Valuation

Avoid Paying More Tax than Required

Our expert valuers can ensure that your property is not overvalued and help you save tax when calculating the capital gains on a property.

Receive Accurate Valuations

Our reports are signed off by RICS Registered Valuers and include detailed descriptions and our methodology so you can have peace of mind they are evidence based reports that are accurate and reliable.

HMRC Compliant

Our valuation reports meet HM Revenue and Customs (HMRC) requirements and minimise the risk of potential errors and potential disputes, which can result in fines and penalties.

What is Capital Gains Tax?

Capital gains tax is a tax on the profit made from selling chargeable assets, such as property or land.

Capital gains tax is charged on the profit made from selling a property that is not your main residence. The amount of CGT you will pay on the sale of a property depends on several factors, including the length of time you have owned the property, your income tax band, and any reliefs or allowances that you are eligible for.

When do I need a Capital Gains Tax Valuation?

Capital gains tax valuations are often required for historical dates which our team is able to complete for all types of residential and commercial properties.

We can provide historical market valuations in any of the following scenarios related to property:

Gifted Assets
A Capital Gains Tax Valuation based of the market value of the property at the time it was gifted

Assets sold for less than market value to benefit the buyer
This report is based on the market value of the property on the date of sale.

Assets owned before April 1982
This Valuation is based on the property value on the 31st March 1982.

Inherited Assets
This report provides a Capital Gains Tax Valuation at the time of the benefactor passing.

How CGT Tax Calculations Work

Calculate the gain:

You need to calculate the gain you made on the disposal of the property. Disposing an asset can mean a sale, transfer, gift or gain in compensation.

Deduct any allowable expenses:

You can deduct certain expenses, such as the cost of renovations, from the gain to arrive at the taxable gain.

Apply any reliefs or allowances:

You may be eligible for certain reliefs or allowances that can reduce the taxable gain, such as letting relief or the annual exempt amount.

Calculate the tax:

Once you have arrived at the taxable gain, you will need to calculate the amount of CGT you owe. The current CGT rates in the UK are 18% for basic rate taxpayers and 28% for higher and additional rate taxpayers.

Report and pay the tax:

You will need to report the sale of the property and pay any CGT owed to HM Revenue and Customs (HMRC) within 30 days of the completion date.

Why choose a RICS Registered Valuer for your CGT Property Valuation?

Mylako Chartered Surveyors provide valuations that can help you to prevent the risk of a challenge and avoid overpaying more tax than necessary. Our Chartered Surveyors are experts in providing accurate and compliant valuations that meet HMRC's requirements.

HMRC can challenge your valuation if they believe that it is inaccurate or does not reflect the true market value of the property at the reported date. They have the power to investigate and dispute any tax return or valuation that they believe may contain errors or inaccuracies, which can result in additional tax liabilities, interest, and fines.

We are also able to negotiate with HMRC on your behalf should the District Valuer Service (DVS) raise any queries regarding the valuation (subject to possible additional fees depending on the specific case and work involved, this will be confirmed before any costs are incurred).

Mylako can support you

Whether you’re buying or selling, extending your lease, calculating your tax liabilities, or looking for a dedicated Property Manager

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