Valuation for taxation purposes

Valuations for taxation purposes are subject to examination by the Valuation Office Agency on behalf of HMRC.  They must be undertaken on the correct basis so that they are not challenged – and so that our clients avoid incurring interest on any additional tax payable, as well as any potential penalties.

How valuation for taxation is different – and how we can help

Valuations are required for a number of taxation purposes including:

  • Capital Gains Tax
  • Inheritance Tax
  • Stamp Duty Land Tax
  • Corporation Tax
  • Income Tax

These types of valuation are based on a statutory definition of market value which is not exactly the same as that defined within the RICS Valuation Standards.  This statutory definition has been subject to interpretation by the Upper Tribunal (Lands Chamber) and higher courts.

Our registered valuers are fully up to date with UK Guidance Note 3 which provides detailed commentary on valuations for Capital Gains Tax, Inheritance Tax and Stamp Duty Land Tax purposes.

Valuations for tax purposes also often need to be based on a specific, often quite historic, date.  Our experienced valuers have the information at hand to recall market conditions at the relevant date, as well as access to numerous databases of historic information.

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