It is important to secure accurate property valuations for ATED. Underestimate the value and you risk having to pay out more Tax than you expected, but if you overestimate, and you may have to spend significant time trying to reclaim your Tax over payment.
HMRC has the right to challenge and investigate a valuation through its District Valuer Service (DVS). If a valuation is challenged, particularly one not supported by a professional surveyor, you could face considerable penalties for having been ‘negligent’ in how you obtained the valuation.
By instructing a Royal Institute of Chartered Surveyors (RICS) registered Chartered Surveyor to provide an ATED valuation, you can be confident that you will be provided with an accurate valuation figure that will be accepted by HMRC when submitting your tax return.
RICS registered valuers follow industry best practice guidelines on how to reach valuation figures and are bound by the codes of conduct of their professional body.
Kempton Carr Croft is a RICS regulated firm. We hold PII insurance cover and all valuations are conducted by qualified RICS registered valuers.