Why You Need a RICS Registered Valuer in West Sussex to Value Your Residential Property for Capital Gains Tax Purposes

Why You Need a RICS Registered Valuer in West Sussex to Value Your Residential Property for Capital Gains Tax Purposes

When you sell a residential property in the UK that is not your primary residence, you may need to pay Capital Gains Tax (CGT) on the profit you make. The amount of CGT you owe will generally depend on the difference between the value of the property on the day you bought it and the value of the property on the day you sell it.

Why is it Recommended to commission a RICS Red Book Valuation of a Property for Capital Gains Tax Purposes?

There are a number of reasons why it is recommended to obtain a RICS Red Book valuation of a property for Capital Gains Tax purposes:

• Accuracy: RICS Registered Valuers are highly qualified and experienced professionals who use a rigorous methodology to assess the value of your property.
• Independence: RICS Registered Valuers are independent and impartial, so you can be confident that your valuation will be fair and accurate.
• Compliance: RICS Red Book valuations comply with HMRC's requirements for CGT valuations.
• Peace of mind: A RICS Red Book valuation can give you peace of mind knowing that your property is being valued in accordance with the highest professional standards.

What are the Various Valuation Dates for Capital Gains Tax Purposes?

There are a number of different valuation dates that can be used for CGT purposes, depending on the circumstances. The most common valuation dates are:

• The acquisition date: This is the date on which you acquired the property.
• The disposal date: This is the date on which you sold the property.

Here are some of the benefits of using Henry Adams Chartered Surveyors:

• Local knowledge: Our valuers have a deep understanding of the local property market in West Sussex and the factors that affect the value of residential property in the area.
• History: We have access to hundreds of historic comparable transactions and can provide you with a more accurate and informed historic valuation of your property if required.
• Reputation: We have a reputation for providing high-quality valuation services.
• Transparency: We will provide you with a clear and concise valuation report that explains how we arrived at our valuation. We will also be happy to answer any questions you have about the valuation process or the value of your property.

Henry Adams Chartered Surveyors is a leading provider of RICS Red Book valuation services in West Sussex. We have a team of experienced and qualified valuers who can help you with all of your CGT valuation needs. Please do not hesitate to get in touch on 01243 215840 should you wish to discuss any aspect of the above or if you would like us to provide a fee quote for a Red Book Valuation.