Tax Planning

Uncompromising expertise every time

Tax Planning

 

Inheritance Tax

At Carpenters, we understand this will be a difficult time for you and your family. Rest assured we will act with compassion and understanding throughout the process. After all, you and your family need all the support you can get. It is very important an accurate valuation is carried out as at the date of transfer not only to assess Inheritance Taxation but also to protect you with future potential Capital Gains Taxation liabilities. Our surveyors will provide a clear, well-structured and robust valuation report to send to your accountant or direct to the HMRC.

Capital Gains Tax

It’s worth noting, that since 1982, any gain you make from a property investment is subject to Capital Gains Tax.

Capital Gains Tax is a tax on the profit when you sell (or ‘dispose of’) something (an ‘asset’) such as a property, that’s increased in value.

It’s the gain you make that’s taxed, not the amount of money you receive.

With property, values haven risen so much over the years, now more than ever, it’s essential that you plan your financial liabilities accordingly.

All our highly experienced Chartered Surveyors and Valuers can provide a clear and robust valuation report to send to your accountant or direct to the HMRC.

Subject to further discussion and agreement, we can also negotiate with the District Valuer if they dispute your valuation figure. This is important, so as to achieve the best deal possible for your estate. Condition and standing of the property is key to this process, the valuation is date specific and can be retrospectively assessed. Our surveyors have access to market leading technology and information sources that date all the way back to 1990. Rest assured we will support you throughout the process to ensure your liability is fairly assessed!

If the property has been previously sold and this is a historic consideration, we can always carry out an external Drive-By and a Formal Desktop appraisal for you.

Probate

This will be a most difficult time for you and your family. At Carpenters, we completely understand what you will be going through and rest assured we will treat your case with integrity and empathy.

As part of applying for Grant of Probate, you need to value the money, property and possessions (‘estate’) of the person who’s died.

It is essential that you have an accurate and robust valuation ‘as at the date of passing’. This will not only be to assess the probate tax but also to ensure you are protected and prepared for any potential future Capital Gains Taxation liabilities if you do not decide to sell the property.

If the passing was some time ago, the property has been previously sold and this is a historic consideration, we can always carry out an external Drive-By and a Formal Desktop appraisal for you.

We are on hand every step of the way to help and support you through this difficult time. We can also liaise directly with your legal advisers to ease some of the pressures off you.

Non-Domicile Tax

If you are in a position where you are living abroad and you need your property valuing and rental income assessing we are here to help. We can liaise directly with your letting agent or tenant for access. 

We are able to communicate via platforms such as FaceTime, WhatsApp and VOIP systems to keep your costs down and maintain a constant level of communication.

All of our Chartered Surveyors are all RICS Registered Valuers which means you can be confident that your valuation report will be clear, concise and professionally structured for you Tax Advisor.

RICS Members

The Royal Institution of Chartered Surveyors is a professional body that accredits professionals within the land, property, construction, and infrastructure sectors worldwide.