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.
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:
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.
This report provides a Capital Gains Tax Valuation at the time of the benefactor passing.
How CGT Tax Calculations Work
Why choose Mylako for your Capital Gains Tax Valuation?
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.
Using Mylako Chartered Surveyors to provide a valuation can help you to prevent the risk of a challenge and avoid overpaying more tax than is necessary. Our Chartered Surveyors are experts in providing accurate and compliant valuations that meet HMRC's requirements.
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).