David Lewis is an RICS Registered Valuer with extensive experience of undertaking property valuations for a wide range of purposes.
In doing so we conform with The Royal Institution of Chartered Surveyors’ standards and each year undertake an annual certification process as part of our registration.
Here are some of the key areas where we help clients.
Property valuations for estate and inheritance tax planning
Our valuations are used by those aiming to make a gift of property without reservation or a potentially exempt transfer. This gives them evidence of a robust and expert calculation of the property’s market value and market rent at the date of transfer to show HM Revenue and Customs, if required.
We also help families, where the property is being sold or passed on, understand the apportioned market value for each of the beneficiaries.
For inheritance tax calculations, we need to consider the following in preparing the valuation:
Lotting the property
This is where an estate comprises (or could successfully be divided into) parcels of land or property. An assessment of the total value (by grouping different components) is compared to viewing the components’ individual values. HM Revenue and Customs often require evidence of such an assessment to determine which brings the greater value overall for the estate (and tax).
Special purchaser value
This considers special purchaser values for any property bordering the estate’s land. For example, it includes assessing if any neighbours have planning applications that may have a bearing on the estate’s property and land.
In both cases, our reports are based on a rigorous and professional assessment which helps our clients have confidence should their inheritance tax treatment come under scrutiny from HM Revenue and Customs.
Property valuations for matrimonial issues
Our work here mainly focuses on valuing property as part of divorce proceedings and helping spouses or civil partners reach a settlement. We either work directly for one of the couple, or are instructed by their legal advisers, occasionally as a Single Joint Expert.
In doing so we have extensive experience of writing:
- advisory reports (for discussions prior to proceedings) or
- expert witness reports for the court session(s)
As an RICS Expert Witness David Lewis is fully qualified to do this.
Clients turn to us in these situations to receive an independent, impartial assessment based on a deep knowledge of, and research into, the current market value in that locality. This means they receive robust, professional, and highly considered reports on their property/estate’s value.
Property valuations for capital gains tax calculations
Capital gains tax may be calculated from a March 1982 base date. Our valuations can include, if required, the value of the property at that date and any subsequent date (either the current or a date in the past, for example a historic division of the property, or the date of death of one of the owners).
As Chartered Surveyors, we use established indices and records to determine the historic value, so you receive a robust and professional assessment.
Find out more
If our RICS Registered Valuer can help you gain a highly professional and considered valuation report regarding your property or estate, please do get in touch.