Capital Gains Tax (CGT) valuation
An expert valuation to calculate tax on profit from selling or gifting a second home or rental property.
Know it’s taken care of
Your main residence is typically exempt from Capital Gains Tax (CGT), so this tax mainly applies when selling or gifting second homes, buy-to-let properties, or land, that have increased in value since purchase. CGT is only charged on the profit— the gain— not the total sale price.
To ensure compliance with HMRC regulations and fair tax treatment, an accurate property valuation is essential.
At Richard Russell Surveyors, we provide detailed, RICS-compliant valuations to help you calculate your CGT correctly—ensuring you pay only what you owe, and not a penny more.
When might you need a CGT valuation?
Selling or gifting a property – You’ll need to know its current market value to accurately calculate your gain
Inheriting a property – The property's market value at the date of inheritance becomes your ‘base cost’ for CGT when you sell. A professional valuation ensures you start with the right figure
Transferring property to family – Even if no money changes hands, HMRC treats it as a sale at market value. A valuation helps prevent unexpected tax liabilities
After major renovations or improvements – Significant changes can increase a property’s value, which may impact your taxable gain when you sell
We make it convenient and straightforward
We arrange a hassle-free property visit – Our team will inspect your property at a convenient time to carry out a thorough Capital Gains Tax valuation.
Expert, locally informed valuations – With extensive market knowledge, we provide accurate, detailed, and HMRC-compliant CGT assessments.
Fast turnaround – You’ll receive your formal valuation report within two working days of the inspection.
Step-by-step guidance – We’re here to support you throughout the process, ensuring clarity and confidence in your valuation.
Good to know
The key thing to remember is that Capital Gains Tax (CGT) is only charged on the gain—the profit made—not the total sale price. The amount of tax owed depends on several factors, including the size of the gain and your income. An accountant or financial advisor will be able to provide tailored advice. Here are some helpful tips:
The valuation date matters
CGT calculations are based on the property’s value as of a specific date, such as the date of inheritance or transfer. Given the recent increase in CGT rates, an accurate valuation is even more critical to ensure compliance with HMRC and avoid overpaying tax.
Tax relief
Keeping records of significant improvements made to the property during ownership is important, as these costs can often be deducted from the gain, reducing your tax liability. If the property was your main residence for part of the ownership period, you may still be entitled to Private Residence Relief, which can lower the tax owed.
Avoid penalties
If the property sale took place in a previous tax year, be mindful of HMRC's reporting deadlines. CGT must now be reported and paid within 60 days of completion for residential property sales, so missing the deadline could result in penalties.
Mixed-use properties
For properties that combine commercial and residential elements, CGT calculations can be more complex. A professional valuation ensures that values are correctly allocated, avoiding errors that could lead to overpayment or disputes with HMRC.
Gifted properties
If a property is gifted, HMRC typically treats it as a sale at market value for tax purposes, even if no money changes hands. This means CGT may still be due, depending on the gain. A valuation ensures clarity for both the giver and the recipient.
HMRC review
HMRC has become increasingly proactive in reviewing property valuations, particularly where tax liabilities are significant. Choosing an experienced surveyor to produce a detailed, well-supported valuation helps ensure compliance and minimises the risk of challenges.
See what our clients say…
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“What a fabulous company to deal with. Very helpful and professional. They went above and beyond to help me out. I couldn’t recommend a better service. Very refreshing.”
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“I would recommend this company without doubt. We recently got in touch with Richard & Russell for a quote to value some properties. The response was swift and the process was easy. The survey reports were carried out by James. He was prompt, personable and very professional. Thank you for the service!”
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