ATED Valuations

A revaluation of the property at 1 April 2022 is now required and will form the basis for the ATED charge for properties for the next five years. Updated revaluations are likely to take many properties over the £500k threshold and into the ATED regime for the first time and, five years on from the last valuation, many properties could go up a band. Therefore, using a professional valuation is highly recommended for several reasons. At Mylako chartered surveyors, our RICS registered valuers possess the expertise and knowledge necessary to accurately assess the market value of your residential property. Our in-depth understanding of property markets and valuation methods ensures that the valuation is conducted in accordance with the requirements set by HMRC. This helps you avoid under or overestimating the value, which can lead to potential penalties or paying more tax than is necessary. Furthermore, our valuations reports carry more weight and credibility with HMRC. The tax authorities are more likely to accept a valuation report prepared by a registered valuer as it demonstrates a thorough and objective assessment of the property's value. This can help in mitigating any potential challenges or disputes during the ATED tax assessment process.