Capital Gains Tax and Retrospective Valuations in Devon

If you sell a second home, a buy-to-let or land, you may owe capital gains tax on the increase in value. Working out the gain often needs a valuation at a past date. ClystCore provides RICS Red Book capital gains tax and retrospective valuations across Exeter, Devon, Cornwall, Somerset, Dorset and Wiltshire, prepared by our RICS Registered Valuer, Thomas Fallaize AssocRICS.

When you might need one

• You are selling a property that is not your main home, and need its value when you acquired it.
• You inherited the property and there was no formal probate valuation at the date of death.
• You owned the property on 31 March 1982, which is the base date for older assets.
• A property was transferred between family members or into a company or trust, and its value at the transfer date is needed.
• Your accountant or solicitor needs a value at a specific past date for another tax or legal purpose.

How a retrospective valuation works

We establish what the property was like at the valuation date, from records, photographs, plans and what you can tell us about later changes. We then analyse sales of comparable properties around that date. The report explains the evidence and the reasoning, so your adviser can rely on it and support it if HMRC asks questions.

What the valuation includes

• An inspection of the property where it still exists in a comparable form.
• Market value at the date your adviser specifies, and at more than one date if needed.
• Comparable evidence from around each valuation date.
• A report prepared to the RICS Valuation Global Standards (the Red Book).

Working with your accountant

We do not give tax advice. We work with your accountant or tax adviser, who tells us the dates and the interest to be valued, and uses our figures in the tax calculation.

Where we work

We value residential property across Exeter and all of Devon, and across Cornwall, Somerset, Dorset and Wiltshire.

Other valuations we carry out

• Probate and inheritance tax valuations
• Matrimonial and divorce valuations
• Help to Buy and shared ownership valuations
• All RICS Red Book valuations

Request a valuation

Tell us the property, the purpose of the valuation and any deadline. Request a Red Book valuation online, email info@clystcore.com or call us on 01392 933392.