Valuation Reports for Probate and Tax
Hocking Associates has 30+ years’ experience as Chartered Surveyors and RICS Registered Valuers in Cornwall. We provide a range of Residential Valuation Reports for a variety of purposes. We appreciate that there are many different reasons our clients may require an assessment of the value of their property, which is why we tailor our service to your requirements and specific circumstances.
Here are some of the main reasons that a Valuation Report may be needed:
For Probate Purposes
When someone in the family has passed away, you may need a Valuation Report for Probate purposes. If you are the executor of the will, you need to bear in mind the issue of Inheritance Tax. Property often makes up a substantial part of the estate, and it is crucial to understand the real value of the property so that the correct amount of tax payable can be calculated.
A Probate Valuation provides an accurate assessment of the value of the asset. At Hocking Associates, our extensive knowledge of Cornwall combined with many years of experience carrying out residential valuations for all types of property means that we are ideally suited to provide valuation advice for Probate purposes.
For Tax Purposes
A Valuation Report for tax purposes may be needed for any number of reasons. It may be the case that the property has risen in value and a sale may trigger a Capital Gains Tax liability. Perhaps you are thinking of gifting a property to someone as part of your Inheritance Tax planning, in which case its current market value will need to be ascertained.
A RICS Residential Valuation Report is a valuable tool to help you establish the correct amount of tax likely to be payable to HMRC and to avoid the risk of lengthy, and possibly costly, disputes at a later stage. Having an accurate property valuation will also help with your general tax planning.
Hocking Associates operates throughout West Cornwall, including Falmouth, Newquay and Truro, with many years of experience and local property expertise that allows us to prepare impartial, extensive and highly professional Property Surveys and Valuation Reports.
If you would like to arrange for a Residential Property Valuation for Probate or tax purposes, or simply gather more information on the range of services that we provide, please don’t hesitate to contact us today. Call us on 01326 379222 or email our offices at email@example.com.