We act for Executors in valuing property that forms part of a deceased person’s estate.
Inheritance Tax Valuation
Inheritance Tax is a tax payable on death. It is calculated on the value of the assets of the deceased. It is currently 40% above £325,000 subject to certain exemptions and relief. We can provide a valuation for Inheritance Tax purposes for each property owned by the deceased, to include a Market Value as defined under Section 160 of the Inheritance Tax Act 1984.
In carrying out the valuation, we consider the effect a Tenancy in Common will have on the value and also consider the loss to the value of the estate as a result of any Lifetime Transfer.
Charities Act Valuation
We carry out valuations for disposals by Charities in accordance with Section 119 of the Charities Act 2011 (formerly Section 36 of the Charities Act 1993). Our report will include:
|description of the land and property,|
|details of sections of the land currently leased by or from the charity,|
|details of easements or covenants,|
|current condition of property/land together with the cost of proposed works,|
|any adaptations/alterations and costs to be made prior to disposal,|
|advice as to the best method to dispose of the relevant land,|
|value after repair and or alteration works,|
|value after sub-division,|
|best time of sale/value after delays,|
|statement as to chargeability of VAT.|