Tuesday, 17 October 2017

Landlords warned to value property

RICHARD MABY, head of Henley lettings has warned

RICHARD MABY, head of Henley lettings has warned landlords to get a valuation of their property. This is because, from April 2015, non-resident individuals holding UK residential property became liable for UK Capital Gains Tax if they sell at any point in the future. The tax will only be payable on any increase in the property value from April 5, 2015 to the price at point of sale. Savills is offering landlords a free “market appraisal” or a chargeable formal “red book” valuation, which is less likely to be contested in the future.



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