While a local agent's valuation provides a snapshot of market value, 95% of them aren't good enough to provide to HMRC alone. Our HMRC-compliant valuations ensure that your estate meets specific tax requirements, reducing the risk of discrepancies and potential challenges from HMRC. HMRC needs to understand the workings behind how you got to the valuation.
You certainly can, but our service saves you handling multiple visits and ensures all valuations meet HMRC's standards, saving you time and ensuring accuracy. Let us know if you want to include an estate agent, and we can contact them. We can also save you from having multiple people visit and do it all in one.
These aren't acceptable for the probate journey, even if you aren't selling the property. Online estimates can vary and often don't account for all factors HMRC considers. Our professional valuations offer a detailed assessment accepted for probate and tax purposes.
Each property is unique, with values influenced by various factors beyond location. Properties rarely sell for the price you see on Rightmove or Zoopla, so you also have to use Land Registry sold data to determine the actual value of your property.
A probate valuation determines a property's value at the time of the owner's death for tax and estate purposes, differing from market valuations, which aim to find a potential sale price. Probate valuations are specifically structured to comply with HMRC requirements.
An HMRC-compliant valuation is crucial for correctly calculating any potential inheritance tax and ensuring the estate is processed smoothly. It helps avoid delays, additional costs, or disputes with tax authorities. HMRC will investigate valuations if they believe they are incorrect.
Agent valuations fluctuate for probate due to myths such as a probate value being less than the market value. Proving the workings is a critical part of a probate valuation
Typically, it takes 5-10 days from contacting us to receive your HMRC-compliant report. This timeframe allows for a comprehensive property assessment, ensuring accuracy and compliance.
We'll need some basic information about the property, such as its address, condition, and any unique features. Additionally, any documentation relating to previous valuations, renovations, or legal issues would be helpful. Our team will guide you through exactly what's needed when you reach out.
Absolutely. Our team has extensive experience with all types of properties, including those with exceptional circumstances such as listed status or significant disrepair. We understand the factors that can affect the valuation of unique properties and ensure these are appropriately accounted for in our reports. We recommend a RICS survey for commercial property, which we can arrange on your behalf.
That’s ok! If you have concerns or disagree with the valuation we provide, we encourage you to discuss them with us. We can review the valuation, consider any additional information you provide, and, if necessary, re-evaluate to ensure accuracy and satisfaction.
Our valuations are conducted by experienced professionals who follow strict guidelines and methodologies HMRC approves. We provide a detailed report that includes all necessary information and justifications for our valuation, significantly reducing the likelihood of HMRC disputes.
