We provide many services besides the Homebuyer Reports and Building Surveys. A few of the more common ones are listed below.
Valuation for Tax Purposes
We can provide Inheritance Taxation valuations, or Capital Gains Tax and ATED valuations. Valuations used in your tax calculations are subject to checking by the District Valuer’s Office on behalf of the Inland Revenue. It is therefore imperative that taxpayers ensure that any valuation used in their tax calculation has been calculated on a statutory basis, using best practice. If, following a discussion with the District Valuer’s Office a different valuation or apportionment is agreed or determined, and this results in a materially different tax bill, you could be faced with a claim for interest and, in some cases, additional penalties. It is therefore of great importance when preparing a valuation for taxation purposes to apply the statutory rules appropriately and have a proper understanding of the basis of market value for taxation purposes.
We will provide a detailed report describing the property, details of the accommodation, together with a general comment on the overall condition of the property, followed by a valuation or market value at the date of death, or whichever is appropriate. We can negotiate with the District Valuer’s Office if required. A number of our surveyors have previously worked in various District Valuer’s offices so we are well versed in these cases.
Alexander Lyons can arrange valuation advice for matrimonial purposes or wherever disputes arise. This form of report is normally on the basis of a private valuation again describing the property and the accommodation together with a general comment on the overall condition of the property. The report may identify the need for further advice or additional reports on specific defects if appropriate.
These are prepared and provided in accordance with current BCIS Guidelines.