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Capital Gains Tax Valuation?

HMRC

The UK government published draft legislation that detailed changes to Capital Gains Tax (CGT) on the sale of properties for overseas investors. The changes bring the UK in line with other global property markets and aligns non-resident property investors with UK resident homeowners.

From 6 April 2015, non-resident UK property investors will be charged on any gains made from the sale of their property of between 18% and 28%, the same rate as UK resident homeowners. The UK government has deemed any UK property owner who spends less than 90 nights in their property to be a non-resident investor and CGT will also be levied on off-plan properties.

We have appointed an accredited firm of RICS registered surveyors and negotiated a special flat fee for all investors (see below) who have bought a UK property. This valuation will be a RICS Red Book Valuation Certificate suitable for the purposes of your future CGT calculations and submission to HMRC.

Fees

Property Value                             Cost

Up to          -       £250,000              £450.00  + Vat
£250,000    -       £500,000             £562.50  + Vat
£500,000    -       £750,000             £675.00  + Vat
£750,000    -       £1,000,000          £787.50   + Vat
£1,000,000  -      £1,500,000          £1012.50  + Vat
£1,500,000  -      £2,000,000          £1237.50  + Vat
£2,000,000  +                                 £1462.50   + Vat

*Multiple property discounts may apply

The changes mean that non-resident UK property owners will need to consider obtaining a valuation of their property.

  • To arrange a valuation, simply complete the form below, click submit and we will arrange it all for you.

If you need to clarify any specific points relating to the changes to CGT legislation, we advise you to seek tax advice from a UK tax specialist.

If you have any futher questions about these changes, or any other issue regarding UK property, please feel free to contact  Rupert Smith for expert advice.

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