All properties owned by overseas landlords will be subject to capital gains tax on any gains made after 6th of April 2015, when the properties are sold. HMRC recommends that owners have their properties valued by RICS valuers and keep on record. In the event that valuations are not obtained , at the time of sale, it will be subject to valuation by the HMRC valuers.
It is also recommended that these valuations are not just desktop valuations but that the surveyor makes a site visit to conclude the report.
Palace Gate have a large number of overseas landlords and as such we have negotiated a discounted rate with an RICS valuer in order to facilitate these valuations as service to our clients and friends.
Please Contact Us if you need assistance.
