When properties are disposed of and they are not exempt capital gains tax, a valuation for capital gains tax is often required. If a gift is to be made of a property it may be advisable to have a valuation as at the date of disposal, this can be used to assist in the calculation of the capital gains tax that may apply to the giver of the gift, as well as the acquirer of the gift for disposal in the future.
If you require a valuation for capital gains tax then call Peter Illingworth to see if they can assist with a professional valuation.
It is critical if you have a property asset that it is adequately insured. Under insurance can mean you may not be paid out in full against a claim and carry the risk of being averaged.
This could mean if you are 10% under insured the insurers may only pay out 90% of the claim. If you require an insurance valuation then call Peter Illingworth to see if they can assist with a professional valuation.
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