TAX, PROBATE and IHT
Accurate RICS Red Book valuations for probate, inheritance tax, capital gain tax and annual tax purposes. Prepared for HMRC requirements and accepted by the District Valuer.
Getting the figure right matters. An undervaluation risks penalties, an overvaluation costs you money.
Which Service Do You Need?
We provide valuations for a range of tax and probate purposes. Select yours below.
Inheritance tax is payable on estates worth more than £325,000 at the date of death. A RICS Red Book valuation of any property in the estate is required to calculate the liability and submit the probate return to HMRC.
Date of Death Valuation
We establish the open market value of the property at the date of death, which is the figure required for the IHT400 return to HMRC.
HMRC-Accepted Reports
Our reports are prepared to RICS Red Book standards and are accepted by HMRC and the District Valuer without challenge in the vast majority of cases.
All Property Types
We value residential, commercial and mixed-use properties for probate purposes, including those held in trust or forming part of a complex estate.
Prompt Turnaround
We understand that probate matters are time sensitive and aim to deliver reports promptly, working to your solicitor's or executor's timetable wherever possible.
Capital gains tax is payable on the profit made when a property is sold or gifted, where that property is not your main residence. An accurate base cost valuation is essential to establishing the correct gain.
Historic Valuations
We establish the market value of a property at a historic date, for example at the date of inheritance, gift or purchase, to calculate the base cost for CGT purposes.
Mixed Use and Part Disposal
Where a property has been used partly as a main residence and partly for other purposes, we advise on apportioning the gain and the relief available.
Gift and Transfer Valuations
When a property is transferred between connected parties, a market value valuation is required to establish the deemed proceeds for CGT.
HMRC Scrutiny
Our reports are prepared to withstand HMRC scrutiny and District Valuer challenge, giving you confidence that the figures submitted are defensible.
The Annual Tax on Enveloped Dwellings applies to companies that own UK residential property worth more than £500,000. Non-Resident Capital Gains Tax applies to gains made by non-resident individuals and entities disposing of UK property.
Annual ATED Returns
We provide revaluation reports on the five-yearly revaluation dates required for ATED, ensuring your annual return is based on an accurate and defensible figure.
Non-Resident CGT
We establish the April 2015 base value required for NRCGT calculations for non-resident individuals and entities disposing of UK residential property.
Penalty Avoidance
Submitting inaccurate figures to HMRC can result in significant penalties. Our reports are prepared to the standard required to avoid challenge.
Residential and Mixed Use
We value properties subject to ATED and NRCGT across all residential and mixed-use types, including those in complex ownership structures.
Why Choose Terracotta Property
Tax valuations need to be accurate, well-evidenced and prepared to a standard that stands up to HMRC scrutiny.
RICS Regulated
All valuations are carried out by RICS-registered valuers and prepared to RICS Red Book standards, giving HMRC and the District Valuer confidence in the figures.
Robust Methodology
We draw on comparable market evidence to produce figures that are well-evidenced and defensible, reducing the risk of HMRC challenge or penalty.
Prompt and Reliable
We understand that tax and probate matters often have tight deadlines. We work to your timetable and keep solicitors and executors informed throughout.
Other Valuation Services
We provide valuations across a wide range of property types and purposes. Browse our other services below.
Commercial Property Valuations
RICS Red Book valuations for offices, retail, industrial and mixed-use assets.
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Commercial Rent Review and Leasehold Advisory
Independent advice on rent reviews, lease renewals and leasehold disputes.
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Compulsory Purchase
Expert valuation and compensation advice for landowners affected by compulsory purchase orders.
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Lease Extension and Freehold Enfranchisement
Specialist valuations for leaseholders and freeholders in extension and enfranchisement claims.
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Matrimonial
Independent valuations for divorce and separation proceedings, accepted by solicitors and courts.
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House of Multiple Occupancy
HMO valuations using the conversion uplift and income approaches, tailored to your requirements.
Find out morediscuss your valuation requirements
Whether you are dealing with an estate, managing a tax liability or need a valuation for HMRC purposes, we are happy to have an initial conversation at no charge. Fill out the form and a member of our team will be in touch.